Three-quarters of budget expenditures in the first quarter accounted for investment projects

More than half (52.3 % or 2 billion 342.6 million manat) of budget revenues in the I quarter of 2014 accounted for transfers from the State Oil Fund of Azerbaijan. For comparison - the Ministry of Taxes has provided 1 billion 762.9 million, the State Customs Committee - 330.4 million manat of total revenues. However, Minister of Taxes Fazil Mammadov, speaking on behalf of the Government at the Cabinet meeting on 13 April macroeconomic condition of the country , the government has entered into an asset trend economic growth.

On revenue of 4,482.7 million manat state budget expenditures amounted to 4,374.3 million manat, he said. The major cost (3 125.9 million manat or 71.5%) invested in capital assets (in this case - investment projects, purchase of technology and equipment). Approximately one fifth of the costs (21.8% or 954 million manat) aimed at financing social areas: wages, pensions, benefits, purchase of medicines and food. Last year, the figure was 1 billion 164 million manats.

As you can see , the government is stepping up investment activity at a faster pace by investing up to 3/4 in the construction budget . Independent public organizations emphasize opaque and inefficient use of these funds. An example is the ski resort in the Hussar area, on which the government has allocated more than $ 1.5 billion

According to the minister, in all sectors of the economy produced the gross domestic product in the amount of 13 billion 150.7 million manat , which is 54.8% - the share of non-oil sector ( half of which - opaque investment projects) . The Minister noted the growth of real income of the population (4.5 % per year ) due to a lower ( 2 %) of consumer inflation . However, the official forgot to stress the inadmissibility of the averaging of income due to the huge difference between the rich and poor earnings.

Highlighted was the role of the National Entrepreneurship Support Fund, in January-March has allocated 76.5 % of the funds (44.7 million manat) for the development of agro-industrial complex. Thereby created more than 2,400 new jobs, he said.

In regions began operating about 100 industrial and agricultural enterprises, as well as objects of trade and services. Construction of 500 objects continues.

Speaking about the work of his department, Mamedov stressed taxpayers electronic registration and payment of fees.

According to the founder of the Center for Economic Research Gubad Ibadoglu, government report is formal and does not reflect the true situation in the real economy . Potential of agro-industrial complex is not developed even at 20% , the reason for that - not the interest of the bulk of the villagers in the development of the segment. The main problem - the widening scope of budget allocations for investment projects – said the Doctor of Economics.

According to the experts of Turan, with the approach of the first European Olympic spending on investment projects will grow, becoming an integral part of national budget expenditure items. - 17D-

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