Azerbaijani official: 2011 state budget will improve welfare of country's people

Azerbaijani government will continue activities on the social orientation of the state budget in 2011, Parliamentary Speaker Ogtay Asadov said at the discussions of the 2011-state budget. According to him, the practice of budgeting improves every year.

"I am confident that the 2011-state budget will improve the welfare of the Azerbaijani people," Asadov said.

The 2011-draft budget set the oil price at $60 per barrel. In 2011, revenues and expenditures increased by approximately 4 percent. Some 68 percent of the state budget revenues are projected to account for the non-oil sector.

Revenues of the 2011- state budget will increase, by 4.8% to 12.061 billion manat (30% of GDP) compared to 2010 and expenditure - by 3.9% to 12.748 billion manat (31.7% of GDP). Deficit of Azerbaijan's 2011-state budget projected at 687 million manat or 1.7% of GDP.


/Trend/