STATE BUDGET REVENUES INCREASED
According to the Finance Ministry’s press service, the budget receipts have made up 100,3 percent, outlays – 97 percent. In comparison with 2002, the receipts increased by 1560 billion manat, while outlays – by 1707 billion manat.
The revenue forecasts were met by Ministry of Taxes, State Customs Committee and Ministry of Economic Development. Budget receipts increased by 34 percent in comparison with 2002 and reached 23 percent without considering the State Oil Fund.
In 2003, the orders of the President of Azerbaijan were fulfilled as to the rise in wages of workers of education, health, culture, art, mass media etc as well as scholarships, pensions and allowances.
The big financial projects such as construction of Azerbaijan State Philharmonic Society after M. Magomayev, airport of Nakhchivan AR, Vaykhir water reservoir, schools etc.
The relations with international financial organizations such as International Monetary Fund and World Bank have been further developed in 2003 towards meeting financial commitments assumed by Azerbaijan. On December 19, the IMF board of directors highly appreciated the reforms being implemented in Azerbaijan.
The level of servicing the internal and external state debts increased in comparison with previous years and the debts were timely paid.
The payment of monthly increments to salaries of state employees for service record and qualification degree and bonuses was provided.
Measures to control the growth of revenues and rational spending were taken.
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