Azerbaijan, Baku, May 18 / Trend A.Akhundov /
The state budget of Azerbaijan has allowed the country to withstand external risks and challenges in 2011, the chairman of the Accounting Chamber of Azerbaijan, Heydar Asadov, said on Friday during the discussion at the meeting of the Parliamentary Committee on Economic Policy of the draft law on the state budget for 2011
"Budget of 2011 has supported the preservation of macroeconomic stability in the country, helped achievement of goals set by the Government, created a financial provision for this," Asadov said.
He said all the planned social activities and investment projects in the past year have been fully executed.
"In 2011 there was no single event and project that would have been ordered but not funded. In addition, the budget allowed to fund social projects, not inherent in it, for example, the implementation of lump-sum payments to depositors of the Savings Bank of the former Azerbaijani SSR," Asadov said.
He said the general parameters of the budget meet modern requirements.
"With the problem of rising budget deficits in Europe, Azerbaijan's budget was executed with a surplus. Borrowings do not exceed half of the upper limit of foreign loans, which means that the country was not included in the risks in this area," Asadov said.
Following the discussions a parliamentary committee on economic policy recommended the Azerbaijani Parliament to discuss a draft law on the state budget for 2011.
Deputy Minister of Finance Azer Bayramov said that in 2011, revenues of the state budget were executed by 100.9 percent.
"Last year, state budget revenues amounted to 15.700.7 billion manat against the forecast of 15.554.2 billion manat, which exceeds the 2010 by 4.297.7 billion manat or 37.7 percent," Bayramov said.
He said the expenses in 2011 were executed by 96.6 percent and totaled 15.397.5 billion manat against the forecast of 15.941.2 billion manat. This exceeds the 2010 figure by 30.9 percent, or 3.631.6 billion manat.
He said that last year the budget was executed with a surplus of 303.2 million manat.
"As of January 1, 2012 balance on a single treasury account of the state budget amounted to 382.9 million manat," Bayramov said.
The official exchange rate is 0.7858 AZN to $1 on May 18.