Bank Of Baku

Azerbaijan raises capital expenditure in state budget

Azerbaijan raises capital expenditure in state budget
# 07 November 2008 10:25 (UTC +04:00)
Baku. Rashad Suleymanov - APA-Economics. Azerbaijan’s 2009 state budget earmarks AZN 5 604.4 million for capital expenditure, up 7.5% on this year, said the Ministry of Finance.
Of this, AZN 4 718 million will be sent as direct public fixed investments to finance projects undertaken under the State Investment Program, up 9.1% on this year.
Besides, AZN 891.4 million will go to construction and reconstruction of the social, cultural, administrative and industrial buildings and facilities, rehabilitation of roads and purchase of intangible assets. The figure is a 0.2% decline on this year.
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).
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