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Nazrin Abdul

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The Ministry of Finance does not plan to allocate large amounts from the state budget for unpredictable events.

Azernews reports that Finance Minister Sahil Babayev stated this during the discussion of the draft law “On the Implementation of the State Budget of the Republic of Azerbaijan for 2024” at today’s meeting of the Committee on Economic Policy, Industry, and Enterprising of the Milli Majlis (the Parliament) of Azerbaijan.

“The deputies noted that there are few funds specifically set aside for emergencies. The ability to predict emergencies in advance is very limited. To avoid a large amount of unspent funds during budget implementation next year, a large allocation is not made. However, during any emergency, funds are provided from both the state budget reserve fund and the Reserve Fund of the President of Azerbaijan as necessary,” the minister explained.

Babayev also emphasized that additional funds can be allocated from auxiliary departments for emergency purposes:

“We do not plan to allocate a large amount for unpredictable events. Instead, funds can be provided through our auxiliary departments and reserve funds whenever emergencies arise.”