MPs criticize allocation of funds from state budget to SOCAR

MPs criticize allocation of funds from state budget to SOCAR
  • Clock-gray 11:16
  • calendar-gray 22 June 2018

‘Reduction of revenues from non-oil sector more than AZN 1 billion in the draft law on ‘Amendments to state budget for 2018’ raises a question. We allocate a large amount of funds for development of non-oil sector, however, it’s planned to reduce revenues from this field in the state budget’, MP Vahid Ahmadov said at the meeting of parliamentary committee on economic policy, industry and entrepreneurship.


According to him, this issue should be paid attention: ‘Moreover, expenditures are planned to increase in the state budget. These are mainly related to pension, salaries and social benefits. At the same time, AZN 663 million is planned to be allocated for SOCAR. I can’t understand. How can it happen than Azerbaijan produces gas but gives Azerenergy compensation? I think more attention should be paid to development of non-oil sector. Another issue concerning me is cancellation of the Second Rural Investment Project for Azerbaijan. We were using investments in emergency cases in districts and villages. Now, this project has been cancelled. We receive appeals from villages. I’ve spoken to Minister of Agriculture Inam Karimov. If needed, I ask to appeal to President Ilham Aliyev’ Ahmadov said.


MP Ali Masimli said that Azerbaijan revises state budget every year: ‘Expenditures in the state budget are ineffective. More than AZN 5 billion are allocated to construction. Expenditures for human development, education are little. Funds for public debt increased by 10%. Allocations for several state companies increased. SOCAR should assist the state budget, not vice-versa’.


Finance Minister Samir Sharifov commented on MP’s opinions: ‘Some MPs appealed to me. The matter is not about cancellation of Second Rural Investment Project for Azerbaijan. This project is related to certain works in the district. The project will continue but on account of internal financial resources. We try to increase our revenues in foreign currency’.  

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