2010 budget forecast down amid global recovery trends
The growth rate of Azerbaijan`s budgetary revenues
and expenses has been lowered for 2010, compared to the 2008 and
2009 state budgets, amid trends of a world economic recovery,
Finance Minister Samir Sharifov said.
Sharifov told a discussion on the 2010 budget draft at the Cabinet of Ministers last week that next year`s budgetary revenues are predicted to reach 10.015 billion manats ($12.5 billion), or 31.5% of the country`s GDP, while expenses are expected to be 11.264bn manats ($14.08bn), or 35.4% of the GDP.
Spending on social programs is projected at over $4.8bn, or 34.4% of the total budget, a 1.8% increase in comparison with 2009. Also, almost $5.5bn of the designated funds, or 39%, will be spent on state-run programs and activities in 2010.
The price of oil in next year`s state budget was forecast at $45 a barrel.
Inflation was predicted at 3% in Azerbaijan in 2010.
Sharifov told a discussion on the 2010 budget draft at the Cabinet of Ministers last week that next year`s budgetary revenues are predicted to reach 10.015 billion manats ($12.5 billion), or 31.5% of the country`s GDP, while expenses are expected to be 11.264bn manats ($14.08bn), or 35.4% of the GDP.
Spending on social programs is projected at over $4.8bn, or 34.4% of the total budget, a 1.8% increase in comparison with 2009. Also, almost $5.5bn of the designated funds, or 39%, will be spent on state-run programs and activities in 2010.
The price of oil in next year`s state budget was forecast at $45 a barrel.
Inflation was predicted at 3% in Azerbaijan in 2010.
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