Tuesday July 23 2024

Government discusses draft state budget for next year

23 September 2023 19:22 (UTC+04:00)
Government discusses draft state budget for next year

The draft state budget for next year was discussed at a big meeting of the Cabinet of Ministers, Azernews repots.

Under the chairmanship of Prime Minister Ali Asadov, the ministers discussed the draft state budget and general budget of Azerbaijan for 2024 and indicators of the general budget for the next three years, as well as issues of economic and social development. This was reported in the Cabinet of Ministers.

Prime Minister Asadov, who opened the meeting with an introductory speech, spoke about successful local anti-terrorist activities carried out by Azerbaijani Army a few days ago in accordance with the assignment of the Commander-in-Chief, President of Azerbaijan. Ilham Aliyev. It was stressed that the glorious Azerbaijani Army fulfilled all the set tasks in just one day.

The Prime Minister wished God's mercy to the soldiers and officers killed during anti-terrorist actions and healing to the wounded.

It was said that 2023 is a particularly significant year for the Azerbaijani people.

"This year we celebrate the 100th anniversary of the birth of our national leader Heydar Aliyev, the architect and founder of the modern independent state of Azerbaijan, an outstanding political and statesman. President of the Republic of Azerbaijan Mr Ilham Aliyev has declared 2023 the 'Year of Heydar Aliyev', and a number of events are being held at the state level in connection with the jubilee of the Great Leader," Asadov added.

At the same time, it was emphasised that 2023 is also marked by the 20th anniversary of President Ilham Aliyev's accession to political power.

Rapid development of our country in all spheres, improvement of people's welfare, significant strengthening of Azerbaijan's positions in the international arena were assessed as successful results of the presidency of the head of our state.

It was emphasised that liberation of our occupied lands and restoration of our territorial integrity is the culmination of this splendid presidential term.

Giving information on the indicators of economic development of the country, Asadov said a 2.6 per cent growth was recorded in the non-oil sector and 6 per cent in the non-oil industry in the first 8 months of the current year.

Currently, the financial situation of the country has significantly improved, strategic foreign exchange reserves reached 67 billion US dollars and increased by 14.5% since the beginning of the year.

In the last period of 2023, the creation of a significant foreign trade surplus, reduction of external debt and high budget revenue fulfilment are assessed as very positive results.

It was reported that as a result of all this, the state budget of 2023 was revised and budget revenues were increased by AZN 3.1 billion or 10.1 per cent and budget expenditures were increased by AZN 3.3 billion or 9.8 per cent.

It was informed that the financial provision required in the budget for successful implementation of measures and projects to be implemented in 2024 has been created on the basis of priority directions of expenditures defined by the President of Azerbaijan.

Information was presented at the meeting on the main tasks and objectives related to the determination of the budget policy for the next year and mid-term period.

In this regard, the implementation of the "2022-2026 Socio-Economic Development Strategy of the Republic of Azerbaijan", rehabilitation and reconstruction of Garabagh and East Zangazur economic regions, as well as continuation of measures to ensure the Great Return, "2023 on socio-economic development of Nakhchivan Autonomous Republic" The importance of implementing the State Program for 2027, strengthening the defence capacity of our country and national security, ensuring food security and supporting the development of entrepreneurship, implementing a new borrowing policy to finance The most important priority projects, ensuring macroeconomic and budgetary stability were stressed.

It was noted that one of the main tasks set by the head of state before the government is to achieve a single-digit inflation rate by the end of this year.

To this end, the working group "On monitoring inflation and prices" established by the Cabinet of Ministers' Decision of 15 July 2023 is carrying out the necessary work in the direction of research and analysis of inflationary processes and their causes.

It was emphasised that appropriate measures will be continued to protect inflation at a level that does not harm macroeconomic and financial stability. In this context, it was stated that one of the main tasks facing the Government in the medium term is to ensure macroeconomic and budget stability.

At the meeting, Finance Minister Samir Sharifov talked about the drafts of the state budget and consolidated budget of Azerbaijan for 2024 and indicators of the consolidated budget for the next three years, Labour and Social Protection Minister Sahil Babayev on the budget projects of the State Social Protection Fund and Unemployment Insurance Fund under the Ministry of Labour and Social Protection for 2024, Prime Minister of Nakhchivan Autonomous Republic Sabuhi Mammadov on "Socio-economic development of the Nakhchivan Autonomous Republic" and "Social and economic development of the Nakhchivan Autonomous Republic". 2023".

Reports on upcoming issues related to the implementation of "State Programme for 2027" were heard.

Then discussions were held on the issues on the agenda.

Concluding the meeting, Prime Minister informed about the main tasks facing the government.

Further strengthening of the military potential of the country and state security, restoration and reconstruction of Garabagh and East Zangazur, ensuring the Great Return, strengthening of discipline in the financial sphere, continuation of reforms in the tax and customs sphere, continuation of measures to ensure a healthy competitive environment in the domestic market relevant instructions were given to ensure food security, as well as implementation of other upcoming priority projects.


Follow us on Twitter @AzerNewsAz

Slider Image 1
Slider Image 1
Slider Image 1
Slider Image 1
Government discusses draft state budget for next year - Gallery Image
Government discusses draft state budget for next year - Gallery Image
Government discusses draft state budget for next year - Gallery Image
Government discusses draft state budget for next year - Gallery Image
Latest See more