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Budget rule changed in Azerbaijan

22 October 2019 13:46 (UTC +04:00)

Budget rule has changed in Azerbaijan, APA reports.

It has been reflected in suggested amendment to the law “On Budget System” of the Republic of Azerbaijan.

According to the acting law, upper limit of consolidated budget expenditures did not have to exceed 103% of approved consolidated budget expenditures. In this case forecasted inflation level of the next year will be taken into consideration in the draft. In other words, according to the draft, upper limit of the consolidated budget expenditures should not exceed 103% of indexed amount of approved consolidated budget expenditures of the current year by taking into account forecasted inflation rate of the next year.

The draft has been adopted after reviewing at the plenary meeting of Milli Majlis today.