State Investments in Azerbaijani Economy to Increase in 2007

Business Materials 26 May 2007 13:14 (UTC +04:00)

Azerbaijan, Baku / corr Trend I.Khalilova, I.Alizade / Samir Sharifov, the Azerbaijani Finance Minister, stated to discussions on 2007 public budget at the Parliament on 25 May that in 2007 the state capital investing will increase by AZN 369mln and AZN 1.915bln.

Special weight of capital investing in the budget expenses will comprise 30.3%.

Nearly 34.5% of additional funds will be directed at financing the energy and infrastructure, 17.6% - improvement of the logistics of ministries and state departments, 5.5% - education, culture and health, 27.1% construction of social facilities, as well as purchase of equipment for state bodies, 6.6% increase of statutory capital of some state enterprises, including the International Bank of Azerbaijan.

Some 2.7% of additional funds will be spent at financing of city building measures in Baku.