OREANDA-NEWS. February 12, 2010. Azerbaijan’s Melioration & Water Industry Company informs that investment expenditures of country’s budget in 2010 on sector of melioration and irrigation were endorsed at the level of AZN 132.8 million.

“The sum is much less than our inquiry makes but it will enable financing the projects left from the previous few years. First, in 2010 we did not plan completion of any of projects, and second, it will not allow their financing. At the best case our projects will be finished in 2011,” the Company said.

These expenditures do not take into account the projects financed from the budget of the State Oil Fund of Azerbaijan (SOFAZ).

The Law on State Budget 2010 stipulates state investment expenditures in the amount of up to AZN 3.549 bn. In 2009, State Budget financed AZN 2.498 bn of investment expenditures against the target plan of AZN 4.718 bn.