Azernews.Az

Azerbaijan's 2008 state budget will be increased by up to 40 per cent. The measure will be approved at the discussions on the budgetary draft due in parliament May 2.
MP Zahid Oruj said budget revenues will thus reach 10.48 billion manats ($12.6bn), while expenses - 11.6 billion manats ($13.9bn). The surplus will be chiefly spent on the military, social and economic fields.
The biggest increase is envisioned for defense. The government will raise expenses on the military by 320m manats to 1.344bn manats ($1.61bn). $1.521bn of the amount will be channeled directly into the armed forces, while smaller amounts - into research on defense and security, and other expenses.
This year's budget revenues have been set at almost $8.8bn, while expenses - at $10.2bn. After the changes are introduced, the figures will increase 44 and 30 per cent respectively.