Government Cut Budget Investments
In January of this year, the government cut the financing of investment projects. By the order of the President the building of only the most important objects for the economy and social life will be continued.
According to the State Statistics Committee, the state budget spent 130.6 million manat to finance projects of transport, education, health, etc. This is 57.1% less than in January 2014. For example, for the construction of public administration, defense and social security 4.9 million manat was spent from the budget, which is only 5% of the size of government allocations for this area in January last year.
This year, the state budget will spend 6.93 billion manat on public investment. But it is expected that the government will undertake the budget sequestration, reducing both its revenue and expenditure part due to the decline in oil revenues. -----08B
Economics
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