Single budget classification approved in Azerbaijan
Baku, Azerbaijan, Oct. 15
By Ilkin Shafiyev - Trend:
Azerbaijan has approved a single budget classification which includes functional, economic and administrative classification of state budget revenues and expenditures, the corresponding document has been signed by the country's Prime Minister Novruz Mammadov.
Organizations financed from the state budget of Azerbaijan and receiving financial assistance from the state budget, institutions covered by the consolidated budget, will begin to apply the single budget classification from January 1, 2020.
In 2019, these organizations and institutions should submit their requests for the draft state and integrated budget for 2020 to the Ministry of Finance on the basis of a single budget classification.
The Ministry of Finance has been instructed to familiarize organizations financed from the state budget of Azerbaijan and receiving financial assistance from the state budget, institutions covered by the consolidated budget with a single budget classification on electronic and paper media.
The ministry has also been instructed to submit to the Cabinet of Ministers proposals on financing required expenditures from the state budget within one month, regularly provide methodological assistance, training and necessary instructions on applying a single budget classification to beneficiaries of financial aid and in the case of the establishment, liquidation and reorganization of institutions during the budget year, make appropriate changes to the "Administrative Classification of Budget Expenditures of the Republic of Azerbaijan" and resolve other issues arising from this decision.
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