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Azerbaijani parliament confirms draft law on state budget execution for 2012

31 May 2013 11:22 (UTC +04:00)

The Minister said that GDP rose 2.2% to AZN 54 bln. Per capital GDP made AZN 5,884.5. He says budget incomes made AZN 17,281.5 mln against AZN 17,038 mln- forecast, expenditures – AZN 17,416.5 mln against AN 17,672 mln.

Currency stocks increased by 14% to $46 bln, personal incomes – by 13.8% to AZN 34.7 bln, average monthly salary stood at AZN 395. Foreign trade turnover amounted to $33.6 bln, as well as export – to $23.9 bln. 84.6% of exported products was crude oil, 5.5 % - oil products, 2.7% - natural gas, 1.1% - fruit and vegetable, 6.1% - other products.

At the same time, AZN 3.31 mln was allocated for purchase of 187 apartments for servicemen during 2012 and 4 months of 2013. These apartments were purchased in Baku, Khirdalan, Sumgayit and Nakhchivan.

Sharifov stated that macroeconomic sustainability continued in 2012, personal incomes increased and investing in non-oil structure, development of the regions continued. THE funds for social sphere increased: “Consolidated budget’s incomes surged 14.4%, budget surplus exceeded forecast by 2-3 times. State budget incomes in GDP reached 32%”.

Minister of Finance noted that AZN 2.899 bln was directed to defense spending, AZN 1.451 bln – to construction of scientific and cultural objects, AZN 130 mln – to financing of investment projects in Nakhchvan. From State Oil Fund, AZN 300 mln was spent to improvement of housing conditions of refugees and internally displaced persons.

Sharifov also said that ANZ 112 mln was spent to agrarian sector: “As a result of regional socio-economic development, the budget received AZN 530 mln. Budget deficit was confirmed at AZN 634 mln. But actually, the budget deficit made AZN 135 mln. As of January, 2013, the budget treasury has AZN 465 mln”.

After discussions, the draft law on state budget execution for 2012 was adopted.