BAKU, Azerbaijan, March 13
Trend:
Travel expenses of budgetary organizations will be reduced in Azerbaijan, said the country's Finance Minister Samir Sharifov, Trend reports.
He was commenting on how coronavirus will affect Azerbaijan’s state budget.
“Global economy has seen a number of trade wars. I hope that the current ongoing trade war will soon end and its completion will be observed by a certain agreement. As a result the situation and the oil prices will stabilize. There are both sellers and purchasers at the oil market and both parties are looking not to lose during this process. This is why a great number of work will depend on the prices. I hope that the process will not be long," Sharifov said.
"As for the issues related to coronavirus, there is no doubt that the global economy has been affected. China suffered the greatest loss. However now we are receiving positive information. Chinese government believes that the coronavirus spreading will end before the end of June in China. Other countries are also taking necessary measures. Azerbaijan also is taking operative measures which is why there are little cases of coronavirus infection,” Sharifov said.
Sharifov also thinks that the current situation will negatively affect the economic activities.
"For the most part the air traffic has decreased. Due to the fact that major airline companies are practically not operating they suffer great losses. Furthermore other correlated sectors also suffer.
The head of state has given certain orders to the government.
The minister added that the government will provide certain support to the entrepreneurship subjects of those sectors which were most negatively affected by coronavirus, and there are now proposals being developed covering ways to offer this support.
“No doubt we are taking all of this into consideration in when assessing state budget revenues and when implementing the budget. On the eve of the Novrus holidays all salaries, social benefits, pensions are being paid and will be paid on time, there are no problems with this. Expenditures due to the state’s liabilities are being paid in full, as well as approved investment projects. There is no doubt that amid reduced departures from the country, travel expenses of budget organizations will be reduced. Restrictions regarding some events are also expected. The savings in certain expenditures will be allocated to support other spheres,” Sharifov said.