Gov`t allots over $2bn for 2009 defense spending
The Azerbaijani government has allocated over 2 billion manats
($2.46 billion) for defense spending and security in 2009, Finance
Minister Samir Sharifov has said.
"This is quite a large figure," Sharifov noted during discussions on next year`s state budget draft at the parliamentary commissions last week, emphasizing that the country`s total expenses on defense and security equaled $4.5bn in 2003-2008. The funds to be set aside for defense will be channeled into purchasing new military equipment.
Under the budget draft, budgetary revenues are expected to make up 12.177 billion manats ($15 billion) in 2009, while expenses will reach 12.355 billion manats ($15.25 billion). About 40% of the budget revenues will come from transfers from the State Oil Fund. 45.4% of expenses will be channeled into capital investments, 33% into the social sector, with the remaining 17.4% into science, education, healthcare, cutlure and sports. About $74 million is designated for the food safety program, while $95m for assistance to farmers, and $12.3m for the distribution of loans.
"This is quite a large figure," Sharifov noted during discussions on next year`s state budget draft at the parliamentary commissions last week, emphasizing that the country`s total expenses on defense and security equaled $4.5bn in 2003-2008. The funds to be set aside for defense will be channeled into purchasing new military equipment.
Under the budget draft, budgetary revenues are expected to make up 12.177 billion manats ($15 billion) in 2009, while expenses will reach 12.355 billion manats ($15.25 billion). About 40% of the budget revenues will come from transfers from the State Oil Fund. 45.4% of expenses will be channeled into capital investments, 33% into the social sector, with the remaining 17.4% into science, education, healthcare, cutlure and sports. About $74 million is designated for the food safety program, while $95m for assistance to farmers, and $12.3m for the distribution of loans.
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