The budget package submitted to the President

A meeting of the Cabinet chaired by Prime Minister Artur Rasizade, which discussed the draft state and consolidated budgets for 2016, the concept and forecasting economic and social development for the coming year and the next  three years. The official statement of the government does not have any figures on the discussed  issues.  The press service of the Cabinet of Ministers noted that at the meeting spoke A.Rasizade , and  noted  the social orientation of the state budget.  Finance Minister Samir Sharifov and Minister of Economy and Industry Shahin Mustafayev also spoke at the meeting. A decision was adopted on the transfer of the state budget and other documents to the President. The economist Rovshan Agayev believes that the government taking into account the decline in revenues decided to reduce the  investment costs.

Analyzing the performance of the state budget in 2013-2015 economist Gubad Ibadoglu concluded that the government does not have a deliberate  medium and long term fiscal policy . "It is a new and difficult economic situation for the government: the fall in world oil prices and  the  decline in government revenues. In this  budget revenues will decrease compared with 2013 year by 5 billion manats or 10 billion. US dollars at the exchange rate of the manat before its devaluation in February this year. Therefore, it will be difficult for  the government  to predict the parameters of the state budget for 2016 that would ensure macroeconomic and social stability and economic growth," said Gubad Ibadoglu. State budget revenues for 2015  have been confirmed at 19 438 million manat, expenses - 21.1 billion manats. -08D-