Azerbaijan's Finance Ministry to allocate funds for amendments to state budget
BAKU, Azerbaijan, Aug.5
By Eldar Janashvili - Trend:
Azerbaijani Ministry of Finance will allocate 600 million manat ($352.9 million) for implementation of support programs within the amendments to the state budget, Trend reports referring to the ministry.
Within this program, taxes and fees of the state budget, as well as extra-budgetary revenues of organizations financed from the state budget, shall decrease by 890.5 million manat ($523.8 million).
The contributions of the State Oil Fund and other state budget revenues shall grow by 850 million manat ($520 million).
The state budget expenses for 2020 will amount to 27.5 billion manat ($16.1 billion).
Moreover, it’s envisioned to allocate 190 million manat ($111.7 million) for the placement of bonds in the domestic market.
As Finance Minister of Azerbaijan Samir Sharifov noted, according to the law on the budget system, the state budget drafting process begins 11 months before the next fiscal year and covers the period until the day of submitting the draft budget to the Parliament.
In connection with the amendments, the application of the budgetary rule provided by the law "On the budgetary system" shall be suspended until January 1, 2022.