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Azerbaijan’s 2009 Public Budget to be Socially Directed

Business Materials 4 September 2008 19:34 (UTC +04:00)

Azerbaijan, Baku, 4 September /corr. Trend I.Khalilova / "The Finance Ministry of Azerbaijan practically completed the work on forming the budgetary forecasts in 2009, and soon they will be represented to the Cabinet of Ministers," the Finance Minister, Samir Sharifov, told on 4 September.

"The Public budget for next year will remain socially directed, and allocate funds for resolution of social questions," said the Minister.

At the same time there are plans to finance measures to increase the defense potential of the country, realize foreign policy, and also resolve different spectrum of questions to realize the recently approved State Program on Reliable Supply of Food Products to Azerbaijan's Population during 2008-2015".

The incomes of the Public budget in 2008 were approved at the level of AZN 10484mln (i.e., 74.5% increase is observed as compared to the actual indices after 2007 and 41.8% to the previous forecasts in 2008), and expenditures - AZM 11060.6mln (by 81.7% and 29.8% respectively). The deficit of the Public budget will be AZN 576.6mln, or 1.8% of the GDP.

This year AZN 1.344bln was allocated to strengthen defence potential, AZN 814.25mln for social protection.   

Official exchange rate on 4 September is 0.8143 AZN/USD.

The correspondent can be contacted at: [email protected]

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