Budget to hit $16bn in 2009: MP
Azerbaijan`s state budget for 2009 will rise to some $15-16
billion, a lawmaker said.
Vahid Ahmadov, member of the permanent parliamentary commission on economic policy, told AssA-Irada that the growth was chiefly due to soaring world crude prices.
The price for oil has been above $100 a barrel in world markets in the past months, and it is expected to exceed $150 by the end of the year," the MP said.
Ahmadov recalled that the minimum wage, pensions and social allowances have been increased in Azerbaijan under a presidential decree this year. "All this will be reflected in next year`s budget, which will foster a budgetary increase."
The lawmaker did not rule out that the budget will reach $20 billion next year. He emphasized that the country`s budget has been growing by the year due to the policy pursued by the government in the past years and rising oil revenues.
"The only point of concern here is that the budget`s dependency on oil revenues remains high. According to projections, about 60% of budgetary revenues will be made up by the oil sector in 2009," Ahmadov added.
Vahid Ahmadov, member of the permanent parliamentary commission on economic policy, told AssA-Irada that the growth was chiefly due to soaring world crude prices.
The price for oil has been above $100 a barrel in world markets in the past months, and it is expected to exceed $150 by the end of the year," the MP said.
Ahmadov recalled that the minimum wage, pensions and social allowances have been increased in Azerbaijan under a presidential decree this year. "All this will be reflected in next year`s budget, which will foster a budgetary increase."
The lawmaker did not rule out that the budget will reach $20 billion next year. He emphasized that the country`s budget has been growing by the year due to the policy pursued by the government in the past years and rising oil revenues.
"The only point of concern here is that the budget`s dependency on oil revenues remains high. According to projections, about 60% of budgetary revenues will be made up by the oil sector in 2009," Ahmadov added.
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