Minister: Amendments made to Azerbaijani state budget

Minister: Amendments made to Azerbaijani state budget

BAKU, Azerbaijan, Nov. 26

By Elchin Mehdiyev – Trend:

A number of amendments were made to the state budget for 2020 taking into account MPs' proposals, Azerbaijani Finance Minister Samir Sharifov said at the plenary meeting of the Azerbaijani parliament on Nov. 25. Trend reports.

The minister said that the funds intended for political parties were increased by one million manat ($589,446) and amounted to four million manat ($2.4 million).

"It is proposed to increase the funds envisaged for public associations by 900,000 manat ($530,503) and bring them up to 5.5 million manat ($3.2 million),” Sharifov said. “Moreover, to implement the order of the Azerbaijani president, it is proposed to allocate the funds from the state budget in the amount of 600,000 manat ($353,669) for the establishment of the Ancient City of Shamkir State Historical and Cultural Reserve in the territory of the Shamkir district and the Ancient city of Agsu State Historical and Cultural Reserve in the territory of the Agsu district. It is proposed to increase expenditures for 2020 of the Azerbaijani parliament by 1.9 million manat ($1.1 million)."

The minister said that there are also changes in the deficit and expenditures of the state budget for the next year.

“The administration of Azerbaijan’s Nakhchivan Autonomous Republic appealed to the government,” Sharifov said. "In accordance with the appeal, an increase in the income of the Nakhchivan Autonomous Republic by 19 million manat ($11.1 million) allows reducing the subsidies allocated by the Autonomous Republic by the same amount."

The minister added that it is proposed to transfer the saved 19 million manat ($11.1 million) to cover the state budget deficit.

“In case of maintaining the budget revenues and expenditures of the Nakhchivan Autonomous Republic in the amount of 482 million manat ($284 million), the subsidies allocated by the Republic of Azerbaijan from the state budget will be reduced by 4.9 percent,” the minister said. “As a result of these amendments, revenues and expenses of the consolidated budget for the next year will be 27.5 billion manat ($16.2 billion) and 29.5 billion manat ($17.3 billion) respectively.”

"The consolidated budget deficit will be reduced by 19 million manat ($11.2 million) and will amount to 1.9 billion manat ($11.1 billion),” the minister said. “The state budget revenues will remain in the set amount, that is, 24.1 billion manat ($14.2 billion), while expenses, decreasing by 19 million manat ($11.2 million), will amount to 26.9 billion manat ($15.8 billion). Accordingly, the state budget deficit, decreasing by 19 million ($11.2 million), will amount to 1.8 billion manat ($1.06 billion)."

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