Azerbaijan parliament starts plenary discussion of 2009 state draft budget

Azerbaijan parliament starts plenary discussion of 2009 state draft budget
# 11 November 2008 08:45 (UTC +04:00)
Baku. Rashad Suleymanov – APA-Economics. Azerbaijan parliament has started plenary discussion of 2009 state draft budget
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).
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.
AZN 1 205.520 million (AZN 1.8 billion with inclusion of capital expenditure and investment) is earmarked for defense spending and AZN 1 134.4 million for social security and social protection next year.
The social security spending is predicted to account 9.2% of total expenditures, up 1.8% on this year.
AZN 495 million will go to an increase in basic portion of labor pensions (up 28.6%), AZN 366.5 million will go to social allowances, targeted social assistance benefits (64.7%), AZN 199.6 million to social security of refugees and IDPs (24.6%).
AZN 1.3 million will be allocated for media outlets and AZN 14.5 million for social mortgage lending.
Revenues of consolidated budget are projected to rise 29.9% to AZN 22.680 billion and expenditures 15.5% to AZN 14.758 billion.
In the consolidated budget, the expenditure of the State Social Protection Fund is projected to increase 26.3% to AZN 1 775.5 million and expenses of the State Oil Funs to increase 29.9% to AZN 5 676.3 million.
Azerbaijan’s state budget was built on revenue estimates of oil priced at US$70 a barrel for 2008.
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.