Is budget inadequate to financial potential of economy? – Finance Ministry Answer


November 13, Fineko/abc.az. In case of high share of GDP on the nonoil sector in the total GDP, budget revenues on this sector are registered as low. In itself, making such a comparison is elementary.

ABC.AZ informs that such a statement was made by Ministry of Finance’s press service.

Thus, development of the nonoil sector is the main goal set by the strategic roadmaps.

With this purpose, tax and customs legislative acts establish essential subsidies in the field of agriculture, financial services, industrial and technological parks, and investment promotion. Although the above-listed spheres contribute to GDP formation, they do not promote to increase of budget revenues as a result of their freeing. It would be logical to compare budget revenues per capita with other countries with taking into account these factors.