First vice-chairman of Milli Majlis Arif Rahimzade presiding at the session has told: “The state budget for the next year is constructed on a strong economic basis. The next year becomes a new stage in the national economy. It openly follows from the part of incomes and charges of the budget.

Then, speaking at the session, Minister of Finance Avaz Alakbarov has told: “Political-economical strategy carried out by President Ilham Aliyev as the major task puts forward achievement of qualitatively new level of macroeconomic and macro-financial stability in the Republic, more accelerated carrying out of structural alterations in economic subjects, achievement of economic growth and further increase of well-being of the population. The head state has signed a number of Decrees and orders of program character representing for the Country fundamental value. These documents have opened ample opportunities for the basic directions of social and economic life of Azerbaijan, and also development of non-oil sector, wide scope of business in regions, rational use of manpower reserves available there and natural resources, reduction of unemployment.

In connection with execution of assignments of the President directed on rise of living standard of the population, the part of incomes and charges of the state budget on 2004 was reconsidered and reached increase at 516,4 billion manats. Naturally, such growth, carried out by the head of our state purposeful economic policy in many respects promoted increase in the part of incomes and charges in the state budget of the next year. Incomes of the state budget for 2005 in the volume of GDP will make of 19,7 percent, that is 9 billion 422 billion manats, exceeds the forecast of 2004 for 25,3 percent, and expected execution - for 20,1 percent. In structure of budgetary incomes proportion of tax bodies will make 70,4 percent, proportion of customs bodies - 15,4 percent, other receipts - 14,2 percent. In 2005 budgetary receipts on the Ministry of Taxes are stipulated at the rate of 6 billion 632 billion manats, on the State Customs Committee - 1 billion 450 billion manats. Local incomes being a component of the state budget, are established at the rate of 865,1 billion manats.

Charges of the state budget on the next year, in view of sources financing the budget deficit will make 10 trillion 1 billion manats. Charges of the state budget on 2005 have exceeded 2 billion 30 million in US dollars, that on 456,0 million dollars is more in comparison with 2004.

Minister of economic development Farhad Aliyev has told on other parameters of the budget. He has told: “Due to successful continuation by President Ilham Aliyev of the strategy of economic development of our national leader Heydar Aliyev, there were favorable conditions for the further social and economic development of the country. In January - September, 2004 economic growth proceeded, the volume of GDP has increased and has made 29 billion 689,1 billion manats, and for 9,9 percent exceeds the parameter of the similar period of 2003. The volume of GDP has per capita made 3 million 633,1 thousand manats or 738,9 US dollars.

Under forecasts of the government up to the end of 2004, the volume of GDP, predictably, will reach 40,3 billion manats. Thus, the volume of GDP per capita will make 5,7 million manats.

On development of economy and social spheres due to all financial sources, there were directed 17,6 billion manats (3,6 billion dollars) of capital investments or for 45 percent more than the last year.

In 2005, process of the further improvement of economic legislative base, bringing it in conformity with the international standards, we will resolve the questions of stimulation of investments, prevention of monopoly, increase of efficiency of agricultural production, acceleration of process of privatization and others. In 2005-2008, first of all will be continued measures on the economic policy, directed on preservation of macroeconomic stability, reduction of poverty.

Chairman of board of the National Bank Elman Rustamov in his remarks spoke about monetary and credit policy carried out in the country, expected in the next year of inflation, increase in credit investments in the non-oil sector and other questions. He has told: “Within 9 months, the rate of AZM has become stronger for 0,3 percent that characterizes stability of our national currency. As a whole, the rate of AZM is established in the currency market which annual volume has already reached 6 billion US dollars, by principles of market economy that is a ratio of supply and demand. The monetary weight in AZM within 9 months has increased in comparison with the corresponding period of the previous year for 31 percent and has exceeded 3 billion manats. Growth of monetary weight three times outstrips rates of growth of GDP.

Minister of taxes Fazil Mammadov spoke on budge proceeds and activity of structure supervised by him in this area. H e has told: “For 9 months in 2004, in the state budget, instead of forecast of 3456,2 billion manats, it was provided receipt of 3603,7 billion manats, the forecast is executed for 104,3 percent. Up to the end of the current year, tax forecasts established for the Ministry will be executed completely. That is, instead of the forecasted 4900,0 billion manats it will be executed by 5153,0 billion manats.

Chairman of State Customs Committee Kamaladdin Heydarov in his statement has expressed opinion in connection with the budget for the next year. It has been marked that in 2005, for the Committee the budgetary forecast has been established in 1 trillion 450 billion manats. It exceeds the parameter of 2004 for 20,8 percent. For maintenance of the forecast, customs bodies will even more strengthen financial discipline, customs control and struggle against smuggling.

Chairman of the Committee has told: “Strengthening of the customs control can lead to relative complication of customs procedures. Therefore, one of the major tasks facing by the customs bodies consists in preservation of balance between strengthening of the control and maintenance of simplification.

The practical measures directed on performance of tasks put before customs bodies in the field of strengthening of the Azerbaijan statehood, elimination of available problems for the further growth of economic power of Azerbaijan, creation of favorable conditions for development of business in the country, suppressions of inappropriate interventions will be carried out”.

Then Chairman of permanent commission of Milli Majlis on economic policy Sattar Safarov has stated the judgments connected to the project of the state budget for 2005. He has told: “The project of the budget is developed under the direct guidance of the President of our country. In the budget, very high rates of development are in increase of GDP -at 14,1 percent. For achievement of such growth, there are real opportunities.

Then deputies have stated their suggestions on draft of the budget for the next year. It has been marked, that the state budget for 2005 is the budget of social and investment orientation. Though forecasts are high enough, performance of the budget does not cause doubts.

Discussions will be continued at the next session of Milli Majlis.

At the session, there was present Prime Minister Artur Rasizade, deputy prime ministers, ministers, chairmen of committees, heads of the companies, concerns and associations.