Government to release lotteries

The Ministry of Finance has submitted a number of documents pertaining to the organization of lotteries to the State Committee on Securities (SCS), the SCS chairman Heydar Babayev told journalists Monday.

In its turn, the SCS has initiated establishment of a common national system of lotteries, as is widely practised throughout the world.

According to him, this requires setting up an operator with profits ranging between 5% and 10% of the turnover. In this case, all revenues will eventually be reaching the state budget. However, H. Babayev declined to specify whether or not his proposal had been accepted.

AZM886 million has entered the state budget from lotteries since January 1, 2000.*