Finance Ministry announces details of new budget rules

Finance Ministry announces details of new budget rules
# 14 February 2018 14:42 (UTC +04:00)

Upon the task of the President of Azerbaijan Ilham Aliyev, Ministry of Finance has developed draft of new budget rules, submitted to the Financial Stability Board and the Board liked it.  

 

Press secretary of the ministry Mais Piriyev told APA-Economics that by making various simulations, the Ministry analyzed the impacts of possible trajectories of oil prices on revenues and expenditures of the budget.

 

He says according to the new budget rules, a certain part of extra incomes from higher oil prices will be able to be spent, major part will be directed to charge and aim to preserve net financial assets of the country while the oil prices fluctuate.

 

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