Almost Half of 2009 Public Expenditure of Azerbaijan to be Spent on Investment

Azerbaijan, Baku, 1 November /corr. Trend N.Ismaylova / The project of 2009 Public budget, which was presented to Azerbaijan Parliament, envisages investing AZN 5.61bln in the main capital, an increase of 7.5% (AZN 393.5mln) from 2008, a government source said. The specific weight of investments in the expenditure part of the budget makes up 45.4%.

The investments for financing projects and measures specified in the State Investment Program are expected to total AZN 4.718bln, an increase of AZN 391.7bln or 9.1% from the same indicators of 2008.

AZN 891.4mln will be directed towards financing public-cultural and administrative and production buildings, construction and capital repair of roads, purchase of non-financial assets, which is an increase of AZN 1.8mln or 0.2%.

In order to create available investment climate in the country to support socio-economic development, firstly the investments will be directed towards implementation of the projects in the spheres of industry, transport, energy, agriculture and other infrastructures, construction of public-cultural buildings, defense measures, national security of the country, financing of the projects and measures of state importance, other several projects.

Official rate on 1 November is 0.8095 AZN/USD

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