GROWTH OF REVENUE PART OF 2006 BUDGET TO MAKE 63%, EXPENDITURES вЂ" SOME 70%
The growth of the revenue part of the budget for 2006 will make up 63% as compared to the same index of 2005. Legislative changes, budget expenditures, as well as other funds are reflected in the budget package, and there are considerable changes in both parts of the budget, the Minister of Economic Development Farhad Aliyev told Trend.
"If to compare to the previous year the budgetary revenues in 2006 will increase by 63%. The volume of the tax takings will grow for 820 million of denominated mantas (5000 AZM = 1 AYM), for 420 million AYM вЂ" customs dues and VAT. Thus, the budgetary revenues will make up 3,4 billion AYM, expenditures - 3,8 billion AYM", - the Minister noted.
According to him, the amount of transfers to the State Oil Fund (SOFAR) will grow for 430 million AYM. "In the 2006 budget it is indicated at the level of $650 million, and in the 2005 budget it was $150 million, Aliyev underscored. The oil price in the budget is indicated as $40.
In the meantime the volume of credits from foreign countries incresed. "In 2006 about $2 billion will be aimed at the development on the account of the budget and foreign loans. They are mostly assigned for implementation of the infrastructure projectsвЂќ, Aliyev noted.