Azerbaijan, Baku, Oct. 12 / Trend M.Aliyev /
The Azerbaijani government will continue activities on the social orientation of the state budget in 2011, Parliamentary Speaker Ogtay Asadov said at the discussions of the 2011-state budget.
According to him, the practice of budgeting improves every year.
"I am confident that the 2011-state budget will improve the welfare of the Azerbaijani people," Asadov said.
The 2011-draft budget set the oil price at $60 per barrel. In 2011, revenues and expenditures increased by approximately 4 percent. Some 68 percent of the state budget revenues are projected to account for the non-oil sector.
Revenues of the 2011- state budget will increase, by 4.8 percent to 12.061 billion manat (30 percent of GDP) compared to 2010 and expenditure - by 3.9 percent to 12.748 billion manat (31.7 percent of GDP). Deficit of Azerbaijan's 2011-state budget projected at 687 million manat or 1.7 percent of GDP.
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