12:02 - 14.01.2020

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January 14, Fineko/abc.az. When restructuring the State Budget in 2019, we’ve already reduced the transfer to the State Social Protection Fund by AZN 150 million.

And following the past year, in fact, savings of up to AZN 180 million were formed due to the lack of need for additional transfer.

ABC.AZ reports that Finance Minister Samir Sharifov made the above-mentioned statement at the 13 January meeting dedicated to the results of 2019 and chaired by President Ilham Aliyev.

Speaking about how this economy was formed, the minister also touched on the issue of revenues of the consolidated budget: "This occurred due to the fact that a big turn was made in the collection of social insurance contributions.

Thus the consolidated budget revenues exceeded much the factual revenues. We had more total receipts. Despite the fact that the consolidated budget was projected to amount to AZN 29.235 bn, the factual execution amounted to AZN 33.818 bn or 15.7% more, i.e. AZN 4.58 bn more. The consolidated budget was executed for AZN 26.476 bn or about 97% against AZN 27.37 bn."