Finance minister: Azerbaijan steadily integrating into global economy

Azerbaijan's economy is steadily integrating into the global economy, changes occurring in the global financial markets undoubtedly have an impact on the Azerbaijani economy, the Finance Minister Samir Sharifov said Tuesday to AzTV state channel.

"We are fighting against the negative effects of the [global] financial crisis that had caused much damage to the world economy in 2008-2009. In some developed countries budgets are being cut and these measures, unfortunately, has affected social programs in the first place", the minister said.

According to him, despite this, steps are being taken to build up social programs in both 2010 and 2011 in Azerbaijan.

"In September and October 2010, President Ilham Aliyev signed a number of orders and decrees increasing the salary of budgetary institutions' employees, minimum wage and the basic pension, all social benefits and grants are increased", said the minister.

According to Sharifov, as a result of this, the welfare of three million Azerbaijani citizens improved. "The 2011 budget provides additional funds for these increases amounting to 460 million manat", the minister said.

In general, the state budget-2011 is characterized by its social orientation. Socially-oriented expenditures [of the State budget-2011] make 4.3 billion manat", the minister pointed out.


/Trend/