Azerbaijan discloses country's 1H2020 currency reserves
BAKU, Azerbaijan, Aug. 3
By Fidan Babayeva – Trend:
The currency reserves of Azerbaijan amounted to $51.1 billion as of July 1 this year, according to the draft amendments to Azerbaijan’s law “On state budget for 2020”, Trend reports.
According to the data, in the first six months of this year, the volume of gross domestic product in real terms decreased by 2.7 percent compared to the same period last year, including the volume of non-oil gross domestic product - by 2.5 percent.
The volume of funds allocated for the country's fixed capital decreased by 2.7 percent, including revenues from the non-oil sector - by 15.5 percent.
“At the same time, the decline in non-oil revenues and the reduction in other financing sources as a result of the weakened economic activity in the country have posed a threat of imbalance between the revenues and expenditures, as well as harmonized execution of the state budget,” the draft reads.