Azerbaijan increases its social expenses by 17 percent in 2011

Business Materials 18 May 2012 19:00 (UTC +04:00)

Azerbaijan, Baku, May 18 /Trend A.Akhundov/

Social expenses of the country increased by 17.2 percent to 4340.3 million manat in Azerbaijan in 2011, Deputy Minister of Finance Azer Bayramov said at a meeting of the parliamentary committee on economic policy.

"Social expenses amounted to 28.2 percent of all state budget expenditures," Bayramov said.

Bayramov added that 2.554 billion manat (increase by 11.8 percent compared to 2010,) was spent for the payroll in 2011, scholarships and social benefits - 1421.8 million manat

(incraese by 30.7 percent), purchase of medicines and dressings - 132.3 million (increase by 15.5), the purchase of food products - 232.2 million manat (increase by 7.2 percent).

"Increasing of wages, pensions, grants and scholarships was provided in the area of improving the social well-being and strengthening of social protection in 2011," Bayramov said.

He said total budget expenditures in 2011 were fulfilled by 96.6 percent and totaled 15397.5 million compared to the forecasted 15941.2 million manat. This exceeds the 2010 figure by 30.9 percent, or 3631.6 million manat.

"The share of budget expenditures in GDP was 30.8 percent, exceeding the previous year by 3.1 percent. In the structure of spending 46.2 percent, or 7115.4 million manat were directed to current expenditures, 51.6 percent or 7938.3 million, - to basic expenses, 2.2 percent, or 343.8 million manat - to serve external debt and other obligations of the state," Bayramov said.

Official exchange rate on May 18 is 0.7858 AZN/USD