IMF MISSION ARRIVES IN AZERBAIJAN FOR SCRUTINIZING AZERBAIJANвЂ™S BUDGET PROJECT FOR 2006
The mission of the International Monetary Fund (IMF) headed by the deputy Director of the IMF Department on Middle East and Central Asia Vitaly Kramarenko will be staying in Baku from 24 till 31 August.
The missionвЂ™s goal is assessment of financial policy and basic structural reforms, under development by the government of Azerbaijan for the remaining period of 2005.
"The mission will also render consulting on the 2006 AzerbaijanвЂ™s state budget draft. Discussion of a new program of cooperation between IMF and Azerbaijan as the missionвЂ™s goals is not specifiedвЂќ, - the representation office noted.
The government of Azerbaijan supposes in 2006 the volume of the Gross Domestic Product (GDP) to make at least 70,5 trillion AZM with the growth by 30,5%. Extending of the taxation base will enable to increase the budget by 40-45%, bringing its revenue part up to 15 trillion AZM ($3-3,2 billion).
Since 4 July, when the Program for Poverty Reduction and Development Program finished (PRGF), there is no any action program between the country and the Fund.
IMF is ready to continue cooperation in the form of the standard for all IMF members surveys of the currency regime and fulfillment of commitments under the Statute, rendering technical assistance and adopt a special program stand by for stabilization due to anticipated gigantic cash inflows to the county.