The Azerbaijan State News Agency

POVERTY LEVEL FALLS THREE-FOLD OVER 2003 FIGURE IN AZERBAIJAN

The 2008 state budget will be based on the resulted achieved in 2007, Finance Minister of Azerbaijan Samir Sharifov was quoted as saying.

Rapid economic development laid a groundwork for developing the 2008 state budget. By estimation, both the Ministry of Tax and State Customs Committee have met revenue forecast. High oil prices are expected to generate additional budget revenue increase.

The 2008 state budget is 34.5% or nearly AZN 2 bln larger than last year’s. The growth equals to the whole budget the country had in previous years.

Thus, President Ilham Aliyev has the promise he made in 2003. He pledged to reduce poverty in Azerbaijan. Poverty level dropped three-fold (49%) over the 2003 figure.

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