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Azerbaijanâ€™s state budget for 2011 recommended to plenary session of parliament for discussion

11 October 2010 11:58 (UTC +04:00)

Minister of Finance Samir Sharifov noted that several offers by Accounting Chamber and MPs have been taken into account.

Generally, the budget incomes is forecasted to be AZN 12 061 mln (growth 4.8%) and the expenditure to be AZN 12 748 mln (growth 3.5%). The budget deficit for next year will be AZN 678 mln. According to minister the GDP increased by 3.8%, its per head sum by 2.7%, average monthly salary by 5.7%, paid services by 10.2% compared with a year ago. The currency reserves rose AZN 6.1 bln to AZN 26.5 bln. AZN 5.2 bln capital was invested in Azerbaijanâ€™s economy.

Income of consolidated budget is forecasted to be AZN 15 558 mln, expenditure AZN 15 129 mln. Base price of oil for a barrel planned to be $ 60, GDP real growth rate 3.8% and inflation 5%. The income and expenditure of Nakhchivan AR is forecasted AZN 393 mln.

The main attention in income and expenditure of state budget was directed to social and defence spending, Chief of Accounting Chamber Heydar Asaqdov informed.

Then, SOFAZ Executive Director Shahmar Movsumov, Deputy Minister of Agriculture Ilham Guliyev, MPs Vahid Ahmedov, Eldar Ibrahimov, Ali Masimli, Nazim Mammadov and Hadi Rajabli made speeches. The state budget project is recommended to discuss at the plenary session of parliament.