TODAY.AZ / Business

President Aliyev notes positive growth pace of economy

22 April 2005 [17:38] - TODAY.AZ
In 2005 the Azerbaijani public budget grew approximately 30%, Azerbaijani President Ilham Aliyev told a meeting dedicated to the economic results of the first quarter of 2005.
"On the one hand it testifies for increase of financial discipline, on the other - mobilization of all opportunities. Still it is not the limit. We have necessary resources and the forthcoming changes in the budget will demonstrate it. We should increase the public budget year by year.  This year the budget for the first time exceeded $2bn. However, our potential certainly higher and following the economic development the public budget will also grow," Aliyev stressed.

The gathering focused on problems of inflation of price rise. President gave instructions on implementation of measures by relevant Ministries and bodies in this sphere. Meanwhile the Cabinet of Ministers told Trend for the time being no instruction entered from the Prime Minister.

During the meeting the President also noted that the positive dynamic of economic growth and announced on possible rise of salaries. "If we considered the indicator (rise of GDP- Trend) to be 14-15%, now it might be higher and reach 18%-20%," he underlined. Aliyev noted that industrial production grew 10.3%. Community incomes rose 24%, salaries - approximately 23%, the deposits in banks - 52%. In the first quarter of 2005 minimal salary rate grew 25% and comprises 125,000 manats (a year ago it was 60,000 manats). "The recent changes to the budget will enable to increase again minimal wage rate,? Aliyev underlined.

In addition, he instructed the Ministry of Economic Development to put maximum efforts and present a 200bn manats public budget assignments for the development of small and medium scale business in the first half-year. Touching upon the agriculture sector, the President reminded that in 2005 100bn manats were allocated for acquisition of new technique through Agroleasing company, while next year it will comprise 150bn manats. "If the economic development allows we could double the sum to prove people involved in agriculture with necessary technique," - the head of state underlined.


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