16:44 - 23.12.2020

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December 23, Fineko/abc.az. Azerbaijan's State Budget deficit will increase next year. In general, the budget deficit is growing every year.

ABC.AZ reports that the above-said statement by Elman Rustamov, the chairman of the Central Bank of Azerbaijan, during the discussion of the draft state and consolidated budgets for 2021 at the meeting of the Milli Majlis Committee on Economic Policy, Industry & Entrepreneurship.

"Sometimes we face the problem of loss of sustainability associated with the financing of the budget deficit. As a whole, uncertainty is forecast in the medium-term prospect in the period when we plan to implement the recovery program. The current realities, especially oil realities, require that we switch to a more economical regime, return to the budget rule, and ensure macroeconomic stability," he said.

According to the chief banker, the exchange rate of the Azerbaijani manat is stable, monetary stability is fully ensured: "In 2018-20 the manat monetary base will grow to 54%. This year, the percentage of issued manat loans decreased by 5.3 percentage points. As a result, there is an increase in business loans, among other things.”