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MINISTRY OF COMMUNICATION OVERFULFILLS BUDGET TARGET

ICT Materials 28 June 2005 19:07 (UTC +04:00)

The Ministry of Communication and Information technologies has made 46 billion manats (roughly 9.7 million U.S. dollars) in remittances to the state budget since January through May, up from the target of 36.9 billion mantas (7.8 million U.S. dollars). Meanwhile, the ministry has transferred 12.8 billion manats (2.5 million U.S. dollars) to the State Fund for Social Security of the Population.

The ministry said that over the reported period its investments вЂ" including money invested in reconstruction projects вЂ" had totaled 25.434 billion mantas (2.6 million U.S. dollars). The money has been spent on boosting phone network capacity вЂ" expansion of local area network, as well as converting old autom,ated phone stations to digital service, etc.

The bulk of investments has fallen to the share of Aztelekom and Baku Phone Communication production associations, 9.42 billion manats (1.98 million U.S. dollars) and 12.23 billion mantas (2.58 million U.S. dollars), respectively.

For the current year, the Ministry is planning to invest 96.5 billion mantas (20.3 million U.S. dollars) in the field of communication and information technologies and make the gross revenue of 670.1 billion manats (141.13 million U.S. dollars) from the services to customers (individuals and legal entities). The budget remittance target has been set at 100 billion manats (21.06 million U.S. dollars), ranking the body among major contributors to the state budget.

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