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Azerbaijani parliament adopts law on execution of 2016 state budget

Business Materials 31 May 2017 16:02 (UTC +04:00)
The Azerbaijani parliament adopted a law on execution of the state budget for 2016 at a plenary session held on May 31.
Azerbaijani parliament adopts law on execution of 2016 state budget

Baku, Azerbaijan, May 31

By Azad Hasanli – Trend:

The Azerbaijani parliament adopted a law on execution of the state budget for 2016 at a plenary session held on May 31.

Addressing the plenary session, Azerbaijan’s Finance Minister Samir Sharifov said that despite the difficult year of 2016, it was possible to implement important social and economic tasks under the leadership of the head of state.

As it was noted by Azerbaijan’s President Ilham Aliyev, the process of adapting the economy to new realities has already ended, said Sharifov adding that this applies to both private and public entities.

He also noted that currently, the implementation of the state budget for 2017 continues and the work is underway on forming the state budget for 2018.

Revenues of Azerbaijan’s state budget for 2016 amounted to 17.5 billion manats (executed by 104.1 percent), and expenditures totaled 17.75 billion manats (executed by 96 percent). The deficit of the state budget amounted to 245.6 million manats that is by 1.67 billion manats less than the forecast.

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