ECONOMY
MINISTER OF FINANCE HOLDS PRESS CONFERENCE
The press conference mainly dealt with the draft budget for 2005.
Minister of Finance told of the accomplishments achieved for recent five years in the socio-economic development of Azerbaijan including the period after the last presidential elections. He pinpointed the presidential decrees “On measures to accelerate socio-economic development in the Azerbaijan Republic”, “State Program of the socio-economic development of regions of the Azerbaijan Republic (2004-2008)” and budget-related Decree.
According to the Minister, GDP increased by 9,9 percent for nine months this year. Average salaries rose 25,2 percent while inflation rate was 5,7 percent. Budget was executed by 104,8 percent. It is by 24 percent or 1 trillion 38 billion manats higher than that of the same period last year.
Mr. Avez Alakbarov noted that 997-page budget documentation had been presented to Milli Majlis (Azerbaijan Parliament).