2024-05-31 02:12:19
Primarily based on an evaluation of financial developments in Azerbaijan over the primary 4 months, the Accounts Chamber concluded that the nominal quantity of GDP within the oil sector on the finish of the yr will probably be better than the adjusted determine.
As Day.Az reviews on Monday close to Development, this was said by the Chairman of the Accounts Chamber of Azerbaijan, Vugar Gyulmamedov, throughout a dialogue of adjustments to the legislation “On the State Price range of the Republic of Azerbaijan for 2024” at a gathering of the Milli Majlis (Parliament) Committee on Financial Coverage, Business and entrepreneurship.
V. Gyulmamedov emphasised that the evaluation of the introduced information reveals that the up to date draft state funds for 2024 predicts the ratio of the non-oil base deficit to non-oil GDP of the evaluation funds for 2024 on the stage of 24.5%, which provides grounds to speak about even a slight deviation from corresponding indicator, that’s, the framework of the fiscal rule.
In response to him, a number of elements influenced the deviation from the goal.
“The primary of them is that the expansion of primary bills of the consolidated funds beneath the revised draft exceeded the expansion of non-oil revenues of the consolidated funds. An attention-grabbing level is that the discount of curiosity bills from the funds additionally had a adverse influence on the budgetary order. Secondly, the expansion of GDP within the non-oil and fuel sector was very small,” he added.