ECONOMY


STATE BUDGET OF 2004 WILL BE SOCIALLY AND INVESTMENT ORIENTED

Growth of revenues and expenses articles of the state budget for 2004 will come to 10 percent as compared to 2003. The GDP growth forecast is fixed at the level of 9.5 percent.

Deputy chairman of the Milli Majlis commission for economic policy Ali Alirizayev said that revenues and expenses might be raised at the expense of non-budget funds in 2004. There are considerable changes in the structure of the budget. It means that state budget of 2004 will be, mainly, socially and investment oriented. The amounted accumulated by the Entrepreneurship Support Fund will come to 150 billion manats.

Minimal monthly salary is expected to reach 60 thousand manats and accordingly, salary, pensions and scholarships are to be raised. Budget deficit is forecast at the level of 0.8 percent and attraction of foreign credits for its compensation will be decreased, local resources will be mainly used with this aim.

In the whole, as economic reforms in the country are speeding up, internal opportunities will be rising as well, as GDP grows solution of social problems becomes easier.

The deputy pointed out that state budget will be transparent as compared to previous years.

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