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Standing parliamentary commissions continue discussing 2009 draft budget in Azerbaijan - UPDATED

Standing parliamentary commissions continue discussing 2009 draft budget in Azerbaijan - <font color=red>UPDATED </font>

07 November 2008 10:50 (UTC +04:00)

Samir Sharifov, Minister of Finance, briefed the participants about the budget blueprint, saying the countryâ€™s foreign exchange reserves grew by 2.4 times over the pat period of this year to $18 billion.
Under the budget outlook, revenues are projected to rise 16.1% to AZN 12.177 billion (27.9% of GDP) and expenditures are expected to increase 1.4% to AZN 12.355 billion (28.3% of GDP).
According to him, AZN 60 million will go to food security, AZN 70 million in fuel and fertilizers subsidies to farmers, AZN 308 million got renovation and road reconstruction works, AZN 52 million for maintenance of diplomatic corps and AZN 14 million for organization of various meetings, conferences and events in and outside the country.
He added that it is proposed to increase the subsistence minimum to AZN 84 per capita, AZN 92 for the economically active people, AZN 65 for pensioners and AZN 69 for children and in raise the subsistence needs level to AZN 60.
A five-year extension is proposed for farmer tax relief (except land tax) which would sunset on January 1, 2009.
Parliamentarian Igbal Aghazade raised the question of abolishing some government bodies, including some committees and bringing them as departments under the auspices of the Cabinet of Ministers.
Parliamentarian Gudrat Hasanguliyev said there is a need to increase the lending to education system, NGOs and media outlets. He added that the planned AZN 2.3 million is too tiny.
After discussion, parliamentarians will send the draft budget to the parliament plenary session for approval.