NINE PERCENT GDP GROWTH IN 2004

According to the Chairman of the Milli Majlis (Parliament) standing commission for economic policy Sattar Safarov, GDP growth has been forecast at the level of 9 percent in 2004. It is 10 times more as compared to 1995. In addition, taxes in some fields are to be decreased, and a number of important projects have been worked out by the government for developing agricultural, heavy and light industries, small and medium business side-by-side with oil industry.

State Budget of 2004 differs from previous according to its transparency. The draft budget contains revenues of the State Oil Fund. Besides, the budget will be socially directed, i.e. social situation of the population will improve; salary, allowances and pension raise is expected.