The budget balance is estimated to have fallen into deficit in 2012, although the target of having the budget deficit not exceed 1% of GDP was met. The fiscal surplus of Azerbaijan increased from 0.6% of GDP in 2011 to 1.3% of GDP in 2012 thanks to rapid revenue growth from the low base of 2011. The revenues continued to be heavily reliant on transfers from the oil fund, more than half of such transfers were directed towards social and infrastructure projects, such as the reconstruction of infrastructure damaged by the earthquake in early 2012.