Azerbaijan is one of first countries taking anti-crisis measures: accounting chamber

Azerbaijan, Baku, 16 October / Trend , U.Ismayilova /

Azerbaijan is one of the first countries which provided anti-crisis measures in the 2009 Public budget, said the chairman of the Accounting Chamber of Azerbaijan, Heydar Asadov.

"Anti-crisis measures were determined in the budget package, so even despite the calculation of predictive indicators on an oil price of $ 70 per barrel, there will be no problems with financing of the cost of protected items under the price drop in world oil markets," -- Asadov said.

According to him, problems with financing the costs of the Public budget was not observed in Azerbaijan during the global financial crisis due to savings and extension of the execution of certain projects.

"As a result of reduction of Public expenditure on implementation of some investment projects and the creation of reserves in the budget through savings, there were no problems despite the price of oil on world markets was just over $50," said Asadov.

In January-August 2009, the Public budget income comprised 6.539 billion manat, or 31.7 percent of GDP. It decreased 2.2 percent from the last year. Public budget expenses rose 0.6 percent and made up 5.861 billion manat (33.2 percent of the GDP). The surpluses of the budget totaled 677.7 million (3.3 percent of GDP).

Some 34.7 percent (2.270 billion manat) of revenues falls to the Taxes Ministry's and 12.2 percent (794.6 million manats) - to the customs duties and taxes with a 106.7 percent fulfillment of the forecast.

The public budget expense for social security and provision of people comprised 728.8 million manats (12.4 percent). 716.5 million manat (12.2 percent) was spent on education, 223.7 million (3.8 percent) - health, 371.9 million (6.3 percent) - maintenance of prosecutor bodies, security and law-enforcement and court bodies, 2.516 billion (42.9 percent)- investment allocations, 110.8 million (1.9 percent) - housing and communal services, 187.5 million (3.2 percent) - agriculture, fishing, 43.2 million (0.7 percent) - transport and communications, and 1.854 billion (31.6 percent) of Public expenses were spent on the payment of salaries, pension and allowances.

The exchange rate on Oct. 16 was 0.803 AZN/USD.

Do you have feedback? Contact our journalist at: capital@trend.az

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