Dec. 20
Azerbaijani president approves to increase need criteria for 2012
President of Azerbaijan Ilham Aliyev approved the law on need criteria in Azerbaijan for 2012.
The need criteria for 2012 has been determined at 84 manat
The figure is 75 manat now.
The law will become effective from Jan. 1, 2012.
According to socio-economic development concept for the subsequent three years, the figure will be brought to 92 manat in 2012, to 100 manat in 2014, and to 106 manats in 2015.
Azerbaijani parliament adopts budget for 2012
The Azerbaijani parliament approved the draft state budget for 2012.
As a result of increasing budget expenditures, revenues will be 16.438 billion manat compared to the earlier forecast of 16 436.4 million manat, the budget expenditure -17 072 million manat..
According to the changes, the share of the budget deficit in the forecasted GDP will grow by 0.2 percentage points to 1.5 per cent.
The budget deficit will be 634 million manat. The upper limit of the budget deficit will be 1.893 billion manat.
President decrees on establishment of Sumgait Chemical Industrial Park
President of Azerbaijan Ilham Aliyev on December 21 issued a Decree on establishment of the Sumgait Chemical Industrial Park, to ensure necessary environment for development of industrial production on the base of competitive and innovative high technology, promote and support entrepreneurship and stable development of non-oil sector in the country, to increase occupancy of manpower recourses in production sphere.
The Decree envisions, through application of modern technology and necessary infrastructure and management units, to implement entrepreneurial activity in the industrial park, to render effective and competitive services, promote to define establishment of enterprises for production and consumption in the oil-chemical and other priority industrial fields.
The Economic Development Ministry is assigned to dismantle the obsolete structures, making lands suitable for usage, as well as organizing internal and external infrastructure and rendering services, to ensure implementation of the defined actions.
Under the Economic Development Ministry a separate Sumgait Chemical Industrial Park LTD has been created.
Appropriate state bodies have been tasked to undertake measures to implement the presidential Decree.