12:59 - 30.08.2018

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August 30, Fineko/abc.az. Azerbaijan is to introduce the new rules on the management of short- and medium-term budget expenditures from 2019.

The Ministry of Finance informs that the new rules will be applied in accordance with the amendments to the Law on the Budget System approved by the head of state.

"The amendments will reduce the dependence on oil revenues and strengthen significantly budget discipline. The purpose of the application of the new amendments is to prevent the sharp growth of budget expenditures and restriction of budget pro-cyclicity in periods of high oil prices," the Ministry reported.

Thus, it is planned to provide countercyclical budget policy that is important for the country's economy in the post-oil period.