AZERBAIJAN`S 2010 BUDGET `TO SERVE STRENGTHENING ACHIEVEMENTS`

21.10.2009 [19:23]
Print
A⁺ A^-

Baku, October 21 (AZERTAC). Azerbaijan`s government will cut budget spending next year with an aim to focus on strengthening the country`s achievements, Ziyad Samadzade, chairman of the Parliament`s economic policy committee, has said.

“Azerbaijan has successfully fulfilled all socio-economic tasks in 2009, and next year`s budget will serve to strengthen the progress achieved.”

Samadzade said the budget cuts will be mostly in investment spending, adding some of investment projects “may be delayed for the years to come”.

According to him, the Azeri government has based its 2010 budget on an oil price of 45 US dollars per barrel.

“Experts predict that the global financial crisis would force several countries to cut their budget by 15 or 18 percent. However, the figure will not be that high in Azerbaijan.”

The 2010 budget has already been submitted to the parliament, with forecasts putting the revenues at 10.15 billion and spending at 11.264 billion manats.

AZERBAIJAN`S 2010 BUDGET `TO SERVE STRENGTHENING ACHIEVEMENTS`

FEEDBACK

Other news in this section