Finance

Finance

Azerbaijan to reduce base price of oil in state budget by 20%

12 November 2013 11:11 (UTC +04:00)

According to her, Azerbaijan’s non-oil sector is expected to increase by 10 next year, 8% in the next three years.

She noted that over 480 enterprises are under construction in the regions: “in 2014, the industrial production will rise 4.8%, construction – 10%, in the next three years – 8%”.

Along with this, agrarian sector will grow 6% (5.4% - in next three years) and increase of grain-growing is as a priority. Service sector will increase by 7.4% in 2014, 8% - in next three years: “Tourism sector is expected to rise 22%”.

Foreign trade turnover will increase by 10%, positive balance will make $15.3 bln. 70% of investments will be financed from domestic sources. Consequently, AZN 6.6 bln will be invested in construction sector. Moreover, gasifying of the regions will be completed. Totally, AZN 7 bln will be allocated for implementation of energy projects.

“However, main target will be development of human capital. Average salary will reach AZN 480. Incomes of the citizens will rise 5.8%”, she said.