Official: Azerbaijan prepared to react adequately to global financial crisis's second wave
Azerbaijan, Baku, November 16 / Trend, A. Akhundov /
It still remains necessary to keep one-year state budget in Azerbaijan, Finance Minister Samir Sharifov told journalists on Wednesday.
"Russia, for example, adopts budget for three years but then several times changes it within one year. There are currently quite unforeseen processes occurring in global financial system. Once these problems are resolved we will think of it," Sharifov said.
He noted that the second wave of global financial crisis has not yet touched Azerbaijan.
"It is somewhere far way and has not reached us yet, but if it touches us, to a certain extent, or acquire complex scales, we have already had the experience of 2008 when we reacted to the crisis. If the situation becomes so sharp we will be able to react adequately," Sharifov said.
MP Ali Masimli told a discussion of the draft of state budget and consolidated budget-2012 and of state budgets for three later years at a joint meeting of the Parliament's Committees on economic policy, social policy, defense and security, natural resources, energy and ecology, and agrarian policy on Wednesday that it will become possible to start practicing three-year state and consolidated budget of Azerbaijan in the near years.