President Aliyev: It is necessary to carry out work in Nakhchivan aimed at increasing local revenues

BAKU, Azerbaijan, Nov. 19

Trend:

It is necessary to carry out work in Azerbaijan’s Nakhchivan Autonomous Republic aimed at increasing local revenues in the coming years, Azerbaijani President Ilham Aliyev said as he received Chairman of the Supreme Assembly of Nakhchivan Autonomous Republic Vasif Talibov.

“Last year, the budget revenues of Nakhchivan amounted to about 400 million manat,” Ilham Aliyev said. “Currently, budget issues for the next year are being discussed. Of course, we will do everything necessary for the successful and secure development of Nakhchivan. However, I want to draw your attention to the following matter. Only 22 percent of Nakhchivan’s budget is generated from local revenues, i.e. only 83 million out of 383 million manat come from local revenues, while the remaining 300 million manat are subsidized from Baku. I believe that it is necessary to carry out work aimed at increasing local revenues in the coming years. I am sure that this will bring even more opportunities for the implementation of social and industrial projects.”

Just like elsewhere in the country, transparency in the financial and economic spheres should be fully ensured in Nakhchivan, said the president.

“I must say that as a result of the reforms, budget revenues have exceeded the plan by 850 million manat in 10 months of this year alone,” Ilham Aliyev said. “One half was formed at the expense of customs and the other half at the expense of taxes. These funds are associated exclusively with reforms carried out in management, transparency. They allow us the opportunity to increase salaries, pensions and funds for investment projects. Therefore, when considering the budget for next year, additional steps must be taken to increase the absolute figures of local revenues and to increase the percentage of local revenues in the budget.”

“I am glad that things in Nakhchivan are going well in all directions,” President Aliyev added. “I am sure that this momentum will be maintained next year as well. I am convinced that all forces will be mobilized to improve social well-being of the population of the Autonomous Republic and address the tasks facing Nakhchivan, and 2020 will also be successful for Nakhchivan.”