2008 budget approved

The Azerbaijani parliament has passed the country’s state budget for 2008. Revenues were set at 7.393 billon manats (about $8.8 billon), while expenses – at 8.519 billon manats (over $10.1 billon).

The revenues and expenses were each raised 9.9 billon manats ($11.7 billon), according to the proposals made by the lawmakers during discussions in the legislature, Finance Minister Samir Sharifov said.

The total budget for next year was set at 10.192bn manats (over $12.1bn).

Parliament Speaker Ogtay Asadov said 77 MPs and government officials made statements during the debate on the state budget that had begun November 5.

103 parliament members voted for, while seven others against the measure.

The greatest share of funds was allocated for direct investments next year, followed by defense spending.*