"Control over costs must be stepped up. In particular, there must be very strict control over goods purchased through the state. In some cases, figures are inflated. In some cases, government agencies buy a lot of unnecessary goods and materials for their own convenience. There are such cases. They buy cars, equipment and furniture from abroad. This must end.," said President of the Republic of Azerbaijan Ilham Aliyev at meeting in a video format on the results of 2020, APA reports.
"We must put an end to all these unnecessary costs. Therefore, control over expenditures should be stronger. See if some additional control mechanism can perhaps be applied. Secondly, the price of oil envisaged in our budget is $40. This is a very conservative approach. But now the price of oil on the world market is more than $50. Of course, it is difficult to predict, but given that the pandemic will end this year – vaccination campaigns are already under way in many countries – and economic activity and travel will increase, air transport and other sectors will open, there will be even greater demand for fuel. In other words, there is a high probability that the price of oil will not be less than $50. Given this, we may have a surplus, so you need to think already where this surplus can be channeled. We may reduce transfers from the Oil Fund if there will is no need for such funds. If the 2.2 billion manats allocated for the restoration of territories is not enough, then it is possible that these funds, i.e. if there is a surplus, can be spent on that. In any case, life will show. When we look at the results of the first quarter, we will see where the economy is going and what processes are going on in the world in general," noted the President.
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