Baku, Azerbaijan, Nov. 4
By A.Akhundov - Trend: Azerbaijani Ministry of Finance has prepared a number of proposals for the transition of the country's several regions to self-financing, Azerbaijani Finance Minister, Samir Sharifov said on Monday during discussions of the state and consolidated draft budgets for 2014 at a meeting of five parliamentary committees, namely the Economic Policy, Social Policy, Security and Defence, Natural Resources, Energy and Ecology and Agrarian Policy Committees.
The Finance Ministry aims to increase local revenues in the state budget revenues.
"We have to admit that some regions will not be able to move to self-financing, but for the rest we have prepared proposals on how this can be done faster," the Minister said.
The growth of local revenues in the draft budget for 2014 is forecasted at 11.9 per cent - to 779 million manats. In compared with the actual figure for 2012, the growth of local revenues in 2014 is 46 per cent.
The official exchange rate on Nov. 4 is 0.7844 AZN / USD.