Vusal Gasimli says about expectations of finding new financial sources

12:30 - 15.04.2020


April 15, Fineko/abc.az. In accordance with the current budget legislation the priority of budget expenditures has been re-evaluated, and a total of AZN 1.35 billion were allocated to fight the post-pandemic crisis due to the reduction and reorientation of some expenditures, the Presidential Reserve Fund and other financial sources.

ABC.AZ reports that the relevant statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

According to Center’s rep, it is also expected to increase the efficiency of investments and current expenditures to ensure the budget to combat the pandemic crisis, the financial burden of which exceeds AZN 2.5 bn. "Azerbaijan is not only reviewing the budget parameters, but also changing the macroeconomic framework, because there is a need to revise the fiscal framework and, accordingly, the macroeconomic framework to change the budget framework. Correct macros are used to predict budget indicators. For this the National Settlement System (MHS) must analyze production, primary and secondary and final accounts. We need to re-evaluate GDP on the basis of the expenditure method in order to make a forecast in accordance with the functional classification of the State Budget. The functional classification, in turn, includes economic classification," he said.

 

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