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AZN 500 mln. surplus is expected in Azerbaijan’s state budget until end of this year

23 December 2020 11:46 (UTC +04:00)

“AZN 500 mln. will remain in the treasure during execution of state budget until end of year. It will be used for financing state budget deficit,” Azerbaijani Finance Minister Samir Sharifov said at today’s discussion of Committee of Azerbaijani Milli Majlis on Economic Policy, Industry, and Entrepreneurship regarding a budget package for 2021, APA reports.

Minister noted that state budget deficit is expanded up to 4.1% of GDP in order to provide targets: “Conduction of several measures is also considered in direction of improvement of management of state finance. Use of a medium-term cost framework, a result-based budget will mainly be started. Relevant protocols have been signed with Ministries of Education, Agriculture in order to obtain results on medium-term costs.”