Azerbaijani Parliament to Discuss Amendments to State Budget

Business Materials 10 April 2008 17:54 (UTC +04:00)

Azerbaijan, Baku, 10 April / corr. Trend I. Alizade/ The Azerbaijani Parliament will consider amendments to the state budget in connection with the increase in its income and expenditures. "The state budget will be reconsidered due to the rise in oil prices in the world markets," stated Vahid Ahmadov, the member of Standing Parliament Commission on Economic Policy.

In 2008, the income of Azerbaijani state budget made up AZN7.392.500.000. In 2007, the income of budget totaled to AZN5.771.000.000 and expenditures - AZN6.315.000.000.

The 2008 state budget indicates one barrels of oil at $50. At present, one barrels of oil costs over $100 in the world market.

"There is an inflow of large volumes of additional resources to the state budget because of the rise in oil prices. The additional resources and the areas into which they will be put must be indicated in the state budget," said Ahmadov.

The budget is going to receive additional AZN3bln as a result of rise in the oil prices.

"There is a rise in the prices of consumer goods both in Azerbaijan and world market. Therefore, it necessitates the rise in pensions, public assistance and other welfare benefits," said Ahmadov.

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