Samir Sharifov: Extra expenditures in state budget will be directed to capital investment

"Expenditures of the consolidated budget already reach AZN 29.5 billion. It seems we’ll have extra expenditures. These expenditures are planned to be directed to capital investment," Minister of Finance Samir Sharifov said at the meeting on economic area chaired by President of the Republic of Azerbaijan Ilham Aliyev, Report informs.

Sharifov said that social reforms have been conducted this year upon the President’s tasks and initiative and these measures were financed by the state budget: "Consequently, certain structural changes have been made in the budget and current expenditures, that’s social expenditures increased by AZN 3.7 billion, while the state capital investment declined."

The minister also noted that the measures taken caused additional AZN 1.3 billion in the state budget, which means a 7.7% growth.

Offering to reduce the expenditures financed by oil revenues, Sharifov said that the state budget will be financed thanks to additional incomes and funds which haven’t been collected in previous year.