Azerbaijan, Baku, April 14 / Trend A.Akhundov /
Azerbaijani Deputy Finance Minister Azer Bayramov said while adjusting Azerbaijan's state budget forecasts for 2011 that attention will be focused on improving social security.
Based on the legislation, a bill on amendments to the state budget may be considered in parliament after May 15, he said.
"One of the proposals is to increase the minimum wage. In this case, wages for all workers in state organizations can be increased," Bayramov said.
He said work is underway to develop proposals received from certain ministries.
It is expected to increase oil prices from $60 to $80 per barrel of oil in the state budget.
Azerbaijan's state budget is based on oil prices of $60 a barrel. However, the price of AZERI LT CIF Augusta was $126.72 per barrel on April 13.
Brent prices exceeded $126.64 a barrel following last Friday's trades. Despite such a price rise, Azerbaijan continues to maintain a conservative policy.
The state budget is expected to receive more revenues due to rising oil prices on world markets.
Bayramov said the Azerbaijan International Operating Company (AIOC) is expected to transfer an additional 280 million manat to the state budget. Earlier, the AIOC was expected to transfer 600 million manat. In 2011, the SOCAR is expected to transfer 680 million manat.
The state budget revenues are adopted as 12.061 billion manat and state budget expenditures are adopted as 12.748 billion manat.