Finance

Home page

Finance

Ziyad Samedzade Global trends will affect Azerbaijanâ€™s budget parameters

20 February 2009 16:52 (UTC +04:00)

Baku. Elbrus Seyfullaev - APA. The Bill on amendments and alterations to the 2009 state budget shall be submitted to Milli Majlis by May 15, said Ziyad Samedzade, chairman of the parliamentary commission on economic policy.
According to him, the developments in global financial markets will have an impact on the budget parameters of Azerbaijan.
However, all major projects to develop infrastructure and social programs in Azerbaijan will be implemented at the planned pace, he added.
He noted that the proposal to cut the oil price estimate in the state budget down from $70 a barrel will not cause any problem.
In his words, there are some projects that may be postponed for next year.
According to Samedzade, banks must focus on the real sector during the financial crisis.
â€œOne of the main causes of the financial crisis is the lack of balance between financial and real sectors. Today, all countries understand that the financial crisis can not be eliminated without the development of the real sector,â€ he noted.