16:26 - 10.11.2021

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November 10, Fineko/abc.az. Many questions have arisen in the field of tax and customs duties. ABC.AZ reports that Finance Minister Samir Sharifov made the above-mentioned statement at today’s meeting of the Parliamentary Committee on Economic Policy, Industry & Entrepreneurship. He noted that every year when preparing the State Budget, the Azerbaijani Ministry of Finance performs a coordinating function between these bodies: "We have intense discussions. In Azerbaijan the Cabinet Ministers has relevant rules regarding the forecasting of tax revenues. Tax revenues are based on revenues from both the oil and nonoil sectors. They are always based on macroeconomic forecasts. Other issues relate to the budget deficit. Here there are already AZN 1.5 bn that are associated with the execution of revenues. And the rest of the budget deficit is associated with spending less than expected. A number of problems in the execution of expenditures are associated with the appropriation of foreign loans, of which only AZN 200 million were used. The rest part faced problems."