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Azerbaijan discloses state budget expenditure for 2021 in relation to GDP

Finance Materials 24 December 2020 19:14 (UTC +04:00)
Azerbaijan discloses state budget expenditure for 2021 in relation to GDP

BAKU, Azerbaijan, Dec. 24

By Fidan Babayeva - Trend:

The projected expenditure of the Azerbaijani state budget for 2021 in the amount of 28.5 billion manat ($16.8 billion) in relation to the country's GDP will amount to 37.7 percent, Chairman of the Chamber of Accounts of Azerbaijan Vugar Gulmammadov said.

Gulmammadov made the remark at the meeting of the Azerbaijani parliament during the discussions of the Azerbaijani state budget for 2021, Trend reports on Dec. 24.

“The budget deficit is projected at 3.1 billion manat ($1.8 billion) next year,” chairman added. “In general, the budget deficit and the sources of its financing are important budget parameters that must be taken into account in the coming years.”

"The expenditure is projected in accordance with the medium-term expenditure framework next year,” chairman said. “These frameworks serve to increase the level of the state budget and we will witness it in 2021."

“The Chamber of Accounts came to the conclusion that it is important to step-by-step continue to work on drafting programs, define the indicators in accordance with current conditions, in particular, to ensure the use of all opportunities for the use of resources within the state investment program,” Gulmammadov said.

"In general, the drafting of state programs, forecasting of funds for these programs, in particular, harmonizing of state programs with each other and with the country's strategic goals, expanding of the range of regulations related to the monitoring of their implementation, remain relevant," the chairman added.

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