Azerbaijani Prime Minister Artur Rasizade signed a decree on the commencement of development of the 2007 pubic budget. The Ministry of Finances told Trend, in compliance with the law on budget system, the budget process will start 11 months prior to the next budget year. With this respect it is planed to establish a commission in expenses and incomes in the composition of representatives from different ministries, state committees and budget organizations. At the proposal of the Ministry of Finances, the commission of incomes will be headed by Azer Bayramov, the Deputy Minister of Finances, like last year.
The budget processes will start with the designing of middleterm indices on socio-economic development, which the Ministry of Economic Development is to present to the Ministry of Finances by 1 March, which will be taken as basis for the development of the initial variant of the public budget by 15 April. By 1 August the macro-economic forecasts will be clarified by late August in order to carry out estimation of the forecast figures.
The Cabinet of Ministers is committed to present draft 2007 combined budget and the forecasts for the subsequent three years by 15 September, while by 25 September to the Presidents Apparat, Milli Majlis [parliemnt]. The consideration of the draft public budget is to start on 15 October, while the final date of approval is 20 December.
In accordance with the middle-term forecasts, which were indicated in the 2006 budget packet, the incomes of the 2007 aggregate budget 2007 are projected in the amount of 5,212,140,900 AZN, expenses 5,208,184,700 AZN. The incomes of the public budget is forecasted at 4,203m AZN, expenses 4,400m AZN. According to forecasts designed by the Ministry of Economic Development, the GDP in 2007 is predicted as 18,180bn AZN. The forecast figures are expected to change depending in the situation and process of implementation of forecast indices for 2006.