The Azerbaijani Finances Ministry has presented the Cabinet of Ministers the 2007 budget forecasts, a draft consolidated budget 2007 and forecasts for the subsequent 3 years, Samir Sharifov, the Azerbaijani Finances Minister, told a news conference on 15 September, Trend reports.
According to Sharifov, in accordance with the budget system, the 2007 public budget forecasts should be submitted to the Cabinet of Ministers by 15 September, and to the President's Administration by 25 September.
It is a joint draft document of the Ministry of Finances and the Ministry of Economic Development, as the budget forecasts were designed on the base of macro-economic indices for 2007. Our forecasts envisage a rise in the budget and while shaping the indices, the present instructions being taken into consideration. The 2007 year will be based on the social scale, Sharifov underlined.
The 2007 Azerbaijani budget will exceed 5bln AZN. Oil price was set in the budget in the amount of $50 per barrel.