Additional fund to be allocated to revive economic activity in Azerbaijan

Additional fund to be allocated to revive economic activity in Azerbaijan
  • Clock-gray 12:07
  • calendar-gray 23 December 2020

“The additional fund will be provided as far as possible for the economy by the state. The main aim of this is to revive the economic activity” said Minister of Finance Samir Sharifov at the meeting of the Committee on Economy, Industry, and Entrepreneurship of the Milli Majlis on the 2021 budget envelope, APA reports.

The Minister has noted that for this purpose, the transfer from the State Oil Fund to the state budget is kept as it is this year: “Especially, in fact, our fiscal revenues have remained at the levels after the adjustment of the state budget for the current year. For the purpose of ensuring economic activity, a part of the Central Bank's free profit will be transferred to the state budget. At the same time, the state debt will be transferred in this direction. A decision has been adopted regarding increasing the level of state debt. This is mainly considered on the basis of placement of government bonds in the domestic market, and on the other hand, attracting additional loans from international financial institutions”.

Firuza Vahid

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