By the instruction of the Azerbaijan Finances Minister, Samir Sharifov, the structure of the International Economic Relationships Department of the Finances Ministry will be reformed. The Ministry informed Trend that since January 1, 2007 the Department will function with a new composition.
There is a proposal to establish three divisions on the base of the Department, which will be charged in international relationships, infrastructure projects financing and social project financing.
Definite work is being carried out in this direction. The Minister will issue an official order decree on structure of the department.
The changes can be explained with big investments expected in the years to come. The budget of the state program for 2007-2010 is estimated to 10bln manats. Moreover, 75% of the funds for its implementation will be allocated out of the State Treasury and the rest will be covered at the expense of foreign credits.
Under the State Program in 2007-2010 the Azerbaijan Government plans to implement infrastructure projects and invest over 4bln manats at the expense of internal funds and 2.4bln manats - foreign capital. The internal investments to be spent of the project of social significance will comprise 974.6mln by 2011 and foreign investments approximately 151 mln manats.
Internal and foreign investments in the institutional projects will comprise of 8.2mln manats and 63 mln manats respectively.
The 2007 public budget assigns 12mln manats for the expansion of the Zarifa Aliyeva Ophthalmology Center, 18.7mln manats for repair of Heydar Aliyev Palace and different culture facilities, 272mln manats construction and repair of roads, 52mln manats for improvement of water system, 70mln for improvement of amelioration system, 24.3mln manats for gasification, 180mln manats for improvement of energy supply, 25mln manats - for completion of construction of airports in Lankaran and Zakatala Districts, 34.8mln for construction of new subway stations, as well as purchase of new carriages and equipment, 66.8mln manats fort repair of historic monuments in Baku and improvement of the capital city.