Business Materials 17 September 2005 13:48 (UTC +04:00)

The Ministry of Economic Development submitted to the Cabinet of Ministers the draft forecast socio-economic development of the country in 2006 and a concept on development by 2009 including.

The Cabinet of Ministers told Trend that the Ministry proposed the forecast amount of the gross domestic products at 14.42bn denominated manat (approximately $15,862bn or 72.1 trln current manat).

"The growth of the GDP is forecasted at 30.5%. The industrial growth was proposed as 46.7%. The share of industry in the GDP (7,074bn denominated manats) is expected to comprise 49.1%," the same source said.

In the US dollar is forecasted as 4500 current manats or 0.9 denominated manat. On 12 September the Finance Ministry presented to the Cabinet of Ministers a draft 2006 public budget with the revenues of 3.3bn denominated manats, expenses of 3,458bndenominated manats and deficit of 158m denominated manats.

In January to August 2005 the GDP in Azerbaijan made up 35,714,2bn manats ($7442,939m) with a rise of 20.2%. In 2005 the GDP is forecasted at 47.8trln manats with a rise of 14.1%, and the amount of the GDP for the time being is 74.7% of the annual forecast, while the growth pace turned out 6.1% up.

The same time the Ministry of Economic Development forests экономического sharp increase of the foreign goods turnover in 2006. The Cabinet of Ministers said that the Ministry suggested the forecast foreign goods turnover as $11,812bn.

"Export is expected to be no less than $7,812bn, while import - $4bn. Thus, the surplus of the trade balance will be approximately $3,812bn,” the same source underlined.

The Ministry of Economic Development also forecasts a rise in capital investments in economy in 2006. The forecast investments are predicted at 5,434bn denominated manats ($5,977bn).

"Domestic investments are expected to make up 1,854bn denominated manats ($2,039bn), foreign вЂ" 3.58bn denominated manats ($3,938bn)," the Cabinet of misers underlined.

Over 8 the investments at the expense of the domestic sources made up 4980.6bn manats ($1037,97m) or i.e. 71.15% of the annual forecast of 7000bn manats ($1421.3m). The foreign investments made up 12,087bn manats ($2518,96m) or 75,95% of the forecast in 15914.2bn manats ($3231.3m.).