Azernews.Az

By Aynur Jafarova

Azerbaijani President Ilham Aliyev has approved a law 'On fulfillment of state budget of Azerbaijan for 2013'.

The news was announced in the official press on June 14.

Azerbaijani Parliament adopted a draft law 'On fulfillment of state budget of Azerbaijan for 2013' at its plenary session on May 16.

The country's state budget for 2013 was fulfilled successfully.

Revenues of the consolidated budget amounted to 23 billion manats, which is 12 percent more than the projected revenue. Last year expenditures of the consolidated budget of the country amounted to 22 billion manats.

The consolidated budget was fulfilled with a surplus of around one billion Manats.

The development of agriculture and ensuring food safety were among the priorities of the state budget for 2013. Azerbaijan allocated 832 million manats for the development of agriculture and this figure was 6 percent more compared to 2012.

The volume of loan agreements signed by the Azerbaijani government with international credit and financial organizations amounted to $12 billion as of the beginning of 2014.

Fulfillment of the state budget of Azerbaijan in 2013 showed that a solid financial base has been created in the country. In 2013, Azerbaijan's GDP exceeded $73 billion, while this figure amounted to $48.8 billion in 2008. Last year revenues of the state budget exceeded $25 billion for the first time.

Last year Azerbaijan's strategic currency reserves grew steadily. They reached about 70 percent of GDP. The macroeconomic stability was ensured and the development of the national economy continued in 2013.