Azerbaijan, Baku, May 30 / Trend I. Khalilova /
The Azerbaijani Parliament ratified report on state budget-2008 execution on May 29.
Dynamic growth in the country's economy reflected state budget execution and summary budget of 2008, minister of finance Samir Sharifov said.
As of 2008 income of summary budget hit 19.52 billion manat, an increase of 2.4 times. But expenditures hit 12.464 billion manat (an increase of 97.6 percent).
Income of state budget hit 10.763 billion manat, an increase of 79.9 percent. Bit expenditures hit 10.774 billion manat (77 percent). Profitable part of budget was executed in the amount of 102.7 percent but expenditures 97.4 percent, Sharifov said. Incomings from non-oil sector increased 1.039 billion manat or 42.8 percent compared to 2007. Weight of non-oil profit increased 0.4 percent and hit 19.9 percent.
The ministry of taxes executed forecasts of tax collection in the amount of 105.9 percent, the state customs committee - 100.1 percent but transfers of the state oil fund was transferred completely (3.8 billion manat) in 2008.
Roughly 27.5 percent of budget expenditures or 2.958 billion manat was directed to financing of social spheres of state budget in 2008. Their amount increased 44 percent compared to 2007.
The government actively implemented financial support of agrarian sector in 2008, minister said. Roughly 40 million manat was allocated to Agroleasing JSC, 5 million manat to the state agency on agriculture loaning, 25 million manat for construction of Agroleasing bases, purchase of bloodstock, highly productive seeds, 50 million manat for food security ensuring, 76.5 million manat for financing of farmers on purchase of combustive-lubricating materials, mineral fertilizing, increase of wheat sown areas.
Deficit of state budget hit 11.562 million manat or 0.03 percent of GDP.
The parliamentary committee approved report on state budget-2008 execution and recommended to deliver it for Milli Mejlis approval.
Successful realization of economic policy in Azerbaijani promoted to avoid impact of the world economic and financial crisis on budget system of the country, permanent parliamentary committee on economic policy chairman Ziyad Samedzadeh said.
"Analysis of state budget-2008 execution demonstrated that economic sphere in the republic strengthens tendencies to increase budget income and expenditures. Forecasts on major parameters of state budget-2008 were executed by average annual price for oil in the amount of $97.6 per barrel. While budget forecasts were formed on $70 per barrel," Samedzadeh said.
Structure if state budget income changed as a result of reduction of the ministry of taxes' and the state customs committee's share in 2008. This structure is different from structure of budget income in other CIS countries. Te ministry of taxes provided 52.9 percent of all income, the state customs committee - 10.3 percent but the state oil fund - 35.3 percent.
Budget expenditures per capita hit 1,241 manat, an increase of 1.8 times in 2008 compared to 2007.
Head of the committee considers increase of local income, expansion of tax collection owing to strengthening of tax control, increase of social expenditures by 44 percent as positive moment.
On May 29, the official exchange rate is 0.8036 manat to $1.
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