President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’. According to the document, the ratio of non-oil base budget deficit to non-oil GDP is projected at 22.9% next year. While this is 1.6 per...

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