Azerbaijan, Baku, 1 March /corr. Trend I.Khalilova / The Government of Azerbaijan intends to hold monitoring of the projects listed in the State Investment Program, said Azerbaijan's Minister of Economic Development, Heydar Babayev, at the meeting with the mission of the International Monetary Fund (IMF) which is on visit to Baku.
According to the initial forecasts, the investment expenditures in 2008 Public budget will total AZN 2.8bln, an increase of 50% from the same expenditures last year.
According to the Minister, the priority directions of the State Program are the projects with regards to energy, education, health, culture and sport, transport, processing of agricultural products.
In addition, discussions were organized on the inflation processes in the Country, as well as joint measures of the Government and National Bank of Azerbaijan to manage inflation. Last year, external factors, especially import, led to the increase of the inflation. The Minister informed the guests of the anti-inflation measures, which include strengthening control on the consumer market, raising role of the anti-monopoly organization, developing entrepreneurship.
The Head of the IMF mission, Valeria Fiker, expressed satisfaction with the measures, taken to ensure economic stability in Azerbaijan, and rates of economic growth. She positively assessed the economic achievements of the Country in 2007 and co-operation with the prestigious international financial organizations.
In addition, debates were held on the medium-term perspectives for 2008, estimate of expenses of the Public enterprises, process of Azerbaijan's entrance to the WTO, expected results after adoption of Code on Competition, preparation process of law draft on direct private investment activities. Further, the sides exchanged views on the key macroeconomic indicators for 2007.
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