Dynamic Economic Development Increase Pressure on Inflation –Minister of Finance
Azerbaijan, Baku / Trend corr. I.Khalilova, I.Alizadeh / The first discussion of the State budget project and consolidated budget of Azerbaijan for 2008 was held during the joint meeting of the five permanent parliamentary commissions on economical, social and agrarian policy and energy and ecology issues.
Touching upon the budget, Samir Sharifov, the Minister of Finance of Azerbaijan, said the document has developed on the basis of the medium-term and long-term priorities of the country, state and economic programs.
The changes were injected on the bases of the state revenues and expenditures in the bills on Budget system, State duties, and State loans of the Tax Code. The bills on State budget of the State Fund on Social Protection for 2008, Cost of living for 2008, have been developed.
"The dynamic development of economy and rise of investments increase pressure on inflation," Sharifov said.
The government is planning to keep under control the state expenditures in order to decrease the growth rate of pressure on consumer costs.
In compliance with the state budget project the revenues increased by 27.9% and made up 7,383 manats (AZN) and expenditures AZN 8,509bln.