Azerbaijan to direct a quarter of 2012 public budget expenditure on social needs
Azerbaijan, Baku, Nov 17 / corr Trend A.Axyundov /
In 2012, the state budget for science, education, social welfare, culture, health, physical education, and youth policy, social activities will amount to 4.325 billion manat, which is 10.8 percent, or 421 million manat more than in 2011.
Finance Minister Samir Sharifov made this statement on Thursday at a meeting of the parliamentary committees on culture, science and education, legal policy and state building, regional issues, human rights, international affairs and interparliamentary relations, dedicated to discussion of the state budget for 2012.
"Overall, the share of these sectors in total expenditures in 2012 will constitute 25.5 percent, or one percent more than that in 2011," Sharifov said.
Sharifov said 666 million manat will be allocated for the projects and activities in these areas in 2012.
In his remarks Shamsaddiin Hajiyev, head of the parliamentary committee on science and education, noted the 2012 public budget is optimal and grounded, and risks of its implementation has been slowdowned to minimum.
"The budget will remain of social and investment orientation," Hajiyev underscored.
According to Hajiyev, the GDP growth rate of 5.7 percent is laid down in the draft concept of socio-economic development in 2012, which is twice more than the rate of growth in developed countries.
"The growth pace of the global economy is 2.5-3.5 percent. The growth rate of GDP per head remains high. On this indicator we occupy a leading position in the CIS. Despite the fact that the proportion of non-oil sector in GDP increases, the low level of budget incomes make us to take steps in that direction," Hajiyev said.
According to Hajiyev, a slowdown in GDP growth in 2011 and 2012 resulted from retaining oil production at 50 million tons per year.
Official exchange rate for November 17 is 0.7865 AZN / USD.