Execution of Last Year`s Budget to Be Discussed in Parliament

The Accounting Chamber of Azerbaijan, having analyzed the revenues of the last year's budget, including the oil and non-oil sectors, budget expenditure, external debt, deficit and its sources of coverage, adopted an opinion on its implementation, recommending for consideration at Milli Majlis, according to the website of the agency.

According to the Ministry of Finance, budget revenues by the end of 2015 were at a level of 17 billion 153.2 million. The performance of the forecast was at 88.2% due to the fall in oil production and world prices for hydrocarbons. The expenditure part was also truncated in this regard - 17 billion 786.8 million (minus 15.7% to the forecast), with a deficit of 633.6 million manats (1.16% of GDP).

The Azerbaijani Accounting Chamber, accountable to the parliament, operates from 7 December 2001, as a body controlling the state budget expenditure.

The managerial personnel (members of the Board, which consists of Chairman, his deputy and seven auditors) is elected every 7 years.

This agency is usually limited to generalities about the Board meeting, without giving specific figures or data. According to Article 6.0.3 of the Law of Azerbaijan "On obtaining information" (Basic Principles of Information), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. --17D-