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Committee chairman: Azerbaijan repays its external debt as planned

31 May 2017 11:17 (UTC +04:00)

Ziyad Samadzade, Chairman of Economic Policy, Industry and Entrepreneurship Committee of the parliament, gave information about the draft law.

According to him, despite the decline in oil price and external risks, the obligations and duties on the state budget were fulfilled: “In spite of decline in oil revenues, expenditures protected in the state budget increased”.

Samadzade said that State Customs Committee and Ministry of Tax fulfilled budget forecasts.

He added that Azerbaijan’s external public debt makes up 20.4% of GDP: “Azerbaijan has not any problem in repayment of external debt. It repays its external debt as planned. This is significant for protection of mutual relations”.

Thereafter, chairman of Chamber of Account Vugar Gulmammadov announced the opinion of the Chamber on execution of the 2016 state budget: “117 state bodies submitted reports and execution of AZN 10.5 billion-fund was analyzed”.

“State budget revenues were executed by 104.1%. However, dividends from shares declined 11.7% compared to forecast. Receipts from land rent declined 22.5% compared to 2015”, Gulmammadov stressed.

Head of the Chamber said the 2016 state budget’s expenditures were executed by 96% and made up AZN 17,751.3 million .