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Orders made to fulfill forecasts for 2009 Public budget

Business Materials 23 December 2008 16:23 (UTC +04:00)

Azerbaijan, Baku, Dec. 23 / Trend , I.Khalilova /Azerbaijani Cabinet of Ministers ordered to the Finance and Economic Development Ministers to develop proposals to the mid of January 2009 on the volume of financing  of concrete objects and directions within the state capital investments, a source from the Government said. Some AZN 4.7bln is planned to direct for this purposes in 2009.

Proposals on the use of the funds provided for the next year within the framework of State program to provide the population with foods (2008-2015) also must be represented within a month. For this purpose, some AZN 60mln was invested into the public budget.

The large taxpayers are the SOCAR (State Oil Company of Azerbaijan), Communication and IT Ministry, Azersu joint stock company, Azerenergy open joint stock company, Azerigas CJSC, Azerbaijani State Railway, Azerbaijani Airlines CJSC, Bakuelectricshabaka, Sumgayitelectricshabaka, Baku Subway, Azerkimiya and the Caspian Sea State Shipping Company, must  develop budget of expenditures and incomes for the next year to the end of January. Before the documents are submitted to the Cabinet of Ministers they need to be agreed with the Finance, Tax and Economic Development Ministries.

The State Committee on State Property Management is charged to present proposals according to the distribution of budget funds in the following directions - on attraction of independent financial consultants, organisation of information input on privatisation, recovery and financing within the state support to enterprise.

Proposals on distribution of funds also must be prepared according to the expenditures for the content of embassies, consulates and other diplomatic missions of Azerbaijan abroad, on membership payments in international organisations, on grants of municipalities.

Under the 2009 public budget ratified by the President of Azerbaijan Ilham Aliyev dating Dec. 11, the incomes are forecast at the level of AZN12.177bln (27.9% of the GDP [Gross Domestic Product]), expenditures - AZN12.355bln (28.3% of GDP), deficit - AZN178mln or 0.4% of GDP.

On Dec. 23, the official rate is 0.802 AZN/USD.

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