Azerbaijan's defense expenses to increase 54.8m AZN and comprise 641.7m AZN Finances Minister

Politics Materials 26 May 2006 18:40 (UTC +04:00)

Expenses for defense will be increased 54.8m manats and reach 641.7m manats, Samir Sharifov, the Azerbaijani Minister of Finances, stated during the consideration o the law on changes and supplements to the 2006 public budget, Trend reports.

Along with changes to the public budget, some changes we also injected din the aggregate budget. Some corrections will be made in the 2006 public budget. The revenues will be increased 591.2m manats or 13.9% and reach 4,846bn manats, while expenses will be increased 617m manats or 13.5% and reach 5,203m manats, Sharifov said.

271.3m manats of 63% of the funds, allocated for increase of the public budget expenses will be directed at public investment expenses, 159.2m manats or 37% - at financing other necessary expenses. The increase of expenses were carried out for boosting the defense capacities and strengthening of countrys security, the improvement of the social security of people, socio-economic development of regions, expansion of investment activities. Increase of defense capacities of the public budget will be increased 54.8m manats (222.8% as compared to 2005) and reach 641.7m manats, Sharifov underlined.

The defense expenses will comprise 12.7% of the budget rise and be mainly directed at the development of the war industry complex, improvement of the logistics in the defense sector, increase of monthly salary of for senior position and rank of the military and citizens, taking into consideration pensions, additional expenses for fuel in connection with increase of prices for diesel fuel and kerosene.