Fighting Sports

Home page

Fighting Sports

Parliament standing commissions discuss 2007 Draft State Budget

03 November 2006 17:07 (UTC +04:00)

Today Parliament standing commissions on economic policy, agrarian policy, social policy, natural resources, energy and ecology, human rights, security and defense came together to discuss 2007 Draft State Budget, APA reports.
Finance Minister Samir Sharifov said that Azerbaijanâ€™s economy has grown dynamically during past three years.
â€œRevenues of the State Oil Fund grew to $16bn from $215m in this period. That is to say the funds of SOFAZ have increased by 1.9 times. In parallel the currency reserves have also grown and exceeded $3bnâ€? he said,â€? he said.
He also said the 2007 Draft Budget envisages revenues at the level of 24% of GDP or rather AZN 5.336bn increasing 39.1% year-over-year.
The expenditures are expected to reach 25.7% of GDP or rather AZN 5.715bn increasing 42% year-on-year.
The state investment expenditures is forecasted to increase by 53.5%, health expenditures by 47.4%, communal flat expenditures by 44.7%, education expenditures by 42.1%, social defense expenditures by 37.8%, culture, art and media expenditures by 26.9%, agriculture and fishing expenditures by 11%.
After the recommendations the Draft State Budget was decided to be discussed at the plenum.
Economic policy standing commission chair Ziyad Samadzade said the draft will once more be discussed on November 6 with participation of all commissions.
The parliament discussion will be held on November 7. /APA/