The Cabinet of Ministers has considered the bill prepared on the state and consolidated budget for 2014. Furthermore, they discussed exemplary figures projected for the next three years.
The document was approved and submitted to the head of state on the base of calculation of $ 100 for each barrel of oil exports, as last year. By law, the draft budget should be submitted by the Office of the President to the Parliament by 15 October.
Prime Minister Arthur Rasizadeh did not rule out the possibility of revising the budget in the event of an increase in world oil prices. Neither in this nor in the following year decline in prices is expected, he said.
The government forecasts GDP growth next year is expected to be higher than 5 %.
Revenues in the state budget for this year was approved at the level of 19 billion 159 million manat and expenditures - 19 billion 850 million manats with a deficit of 691 million manat ( 1.2% of GDP).
According to the Finance Ministry, in January-July budget surplus (positive difference between revenues and expenditures) amounted to 3.6 % of GDP, or 1 billion 147.2 million manat. - 17D-
Economics
-
Azerbaijan is set to host its Trade Forum on October 1, supported by “Pasha Holding” and jointly organized by the Small and Medium Business Development Agency (SME), Azerbaijan Customs representation, and the Logistics Companies Association.
-
The inaugural Investment Forum on energy transition in Central Asia is set to take place on November 15-16 in Baku, Azerbaijan, organized by the International Renewable Energy Agency (IRENA) and Azerbaijan’s Ministry of Energy as part of the COP29 conference.
-
At the advisory meeting of railway administrations held in Baku on September 19-20, Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC (ADY), met with Ufuk Yalçın, General Director and Chairman of the Board of the Turkish State Railways Company "TCDD Taşımacılık." The meeting marked the second time this year that officials have discussed expanding railway transport cooperation between Azerbaijan and Turkey.
-
The Center for Analysis of Economic Reforms and Communication (CAERC) has completed its monitoring and evaluation of the first half of the year in relation to the "I State Program on the Great Return to the Liberated Territories of the Republic of Azerbaijan." This state program focuses on restoring infrastructure and resettling displaced populations in areas that were reclaimed during the 2020 Nagorno-Karabakh conflict.
Leave a review