OREANDA-NEWS. December 28, 2012. The Cabinet Ministers of Azerbaijan is preparing to approve the state investment program for the next year.

Government sources say that since 24 December the country has been conducting the final polishing of the draft state investment program, including analysis of investment inquiries of ministries and departments.

"The final draft is almost ready, and the state investment program for 2013 can be approved today or tomorrow. It should be understood that for the first time in the history of independent Azerbaijan, at the initiative of President Ilham Aliyev the country will enter into the next year with the approved government investment program," the source said.

Back in mid-December, Finance Minister Samir Sharifov said that the Ministry of Economic Development prepared a draft of the state investment program for 2013.

Then followed the procedure for its inter-agency coordination, and since Monday the possible recipients and managers of public investments defend the validity of their investment inquiries. It should be noted that Saturday and Sunday (29 and 30 December) have been declared working days in the country.

Under the Law on State Budget 2013, State Budget capital investment will amount to AZN 6.915 bn which is equivalent to 34.84% of the expenditure side of the budget. There is not more significant expense item in the budget.

State Budget revenues in 2013 will amount to AZN 19.159 bn and expenditures for AZN 19.85 bn. Limit of the budget deficit was set at AZN 691 million, the limit of the internal debt at AZN 133.35 million, and external debt at AZN 647.336 million.

The law will come into force on 1 January 2013. At that, President Aliyev in advance challenged the government to approve the State Investment Program in December, that is, prior to the entry into force of the budget law.