Minister: “The purposeful policy pursued under leadership of President Ilham Aliyev ensured creation of necessary volume of reserves in our country"

Minister: “The purposeful policy pursued under leadership of President Ilham Aliyev ensured creation of necessary volume of reserves in our country"
  • Clock-gray 11:59
  • calendar-gray 05 August 2020

"The state uses resources that are at its command,” said  Minister of Finance Samir Sharifov during draft law of the Republic of Azerbaijan about making a change in the Law of the Republic of Azerbaijan “about state budget of the Republic of Azerbaijan for 2020” at the meeting of the Azerbaijani Parliament held today, APA reports.

The minister said the extra income of the State Social Protection Fund (SSPF) is also used already: “During 6 months of this year, the extra income of the state budget is also put in use. The purposeful policy conducted under the leadership of President Ilham Aliyev has ensured the creation of the necessary volume of reserves in our country. Today, unlike other countries, we don’t appeal to international financial institutions for obtaining credit. This is the result of that policy. During the current year, in connection with the existing situation, the incomes of the Oil Fund will decrease. But unlike the previous 3 months, the reserves of the Oil Fund have almost returned to the same level. Today, relevant financial support should be provided to the economy, so that we could decrease negative impacts. The provision of such support is quite important”.

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