Azerbaijan’s 2007 Public Budget to be Increased by AZN 500mln : Chairman of Parliamentary Commission
Azerbaijan, Baku / corr Trend I.Alizade / MP Ziyad Zamedzade, the chairman of the permanent parliamentary commission on economic policy, stated on 15 May that the 2007 public budget of Azerbaijan will be increased by a minimum of AZN 500mln.
He noted that the increase of the public budget will be discussed on 21 May at a meeting of the permanent parliamentary commission on economic policy and 25 May at the plenary meeting. "These funds will be mainly directed towards increasing social expenses and the development of production and social infrastructure. The fund should be utilized to avoid any impact on rising inflation," Samedzade stressed.
The issue is set in such a manner that the increase of expenses will instigate the increase of prices. He added that a certain amount of inflation is to be expected. "Provision of systematic control over capital circulation will expand the measures on economic development," Samedzade stressed.
The MP assured that the budget increase will be accompanied by an increase in wages, pensions and social benefits.