Procedure for providing financial resources to local budgets changes


December 8, Fineko/ Azerbaijan is changing the procedure for providing financial resources (budget loan) for a certain period of time during the year, subject to the return of centralized state budget expenditures to the budget of the Nakhchivan Autonomous Republic, local budgets and legal entities, municipal organizations from local budgets during the budget year.

ABC.AZ reports that this issue is reflected in the proposed amendments to the Law on the Budget System.

Commenting on the relevant bill, the Accounts Chamber stated that the main purpose of the proposed changes could be both the provision of budget loans at the expense of free residual funds, and the clarification of the circle of legal entities.

Previous analyses indicated cases of allocation of budget loans to legal entities from free residual funds, although this is not provided for by law.