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Head of Chamber of Accounts talks Azerbaijan's foreign reserves amid COVID-19 spread

27 May 2021 17:28 (UTC+04:00)
Head of Chamber of Accounts talks Azerbaijan's foreign reserves amid COVID-19 spread

By Trend

The COVID-19 pandemic hit the global economy greatly last year, Chairman of the Azerbaijani Chamber of Accounts Vugar Gulmammadov said.

Gulmammadov made the remark during the discussion of the bill "On the execution of the state budget for 2020" at the plenary session of the Azerbaijani parliament, Trend reports on May 27.

“Despite the COVID-19 pandemic had a certain impact on the Azerbaijani economy, this did not lead to the big reduction in the country's foreign reserves,” chairman said.

“The 2020 state budget cannot be compared with the budgets of previous years due to such factors as the COVID-19 pandemic and the situation in the oil market,” chairman added.

“The Chamber of Accounts considers it important to improve the budget classification based on the international currency classification in connection with the execution of the state budget last year,” Gulmammadov said.

“It is necessary to improve some measures in the field of tax and customs administration,” chairman said. "We consider it important to apply financial administration."

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