Minister of Finance of the Republic of Azerbaijan Samir Sharifov made a business visit to the Islamic Republic of Pakistan, the United Arab Emirates (UAE) and India on February 19-21***As of January 1st, 2018, the external public debt of the Republic of Azerbaijan constituted 9,398.3 million US dollars (equivalent 15,978.1 million manat). The Debt to the Gross Domestic Product ratio stands at 22.8 percent (based on 2017 GDP of AZN 70,135.1 mln)******


Format: 2018-10-16

Prime Minister Novruz Mammadov signed a Resolution to approve a single budget classification featuring functional, economic and administrative classification of the budget revenues and expenditure of the Republic of Azerbaijan.


On October 4-5, the Ministry of Finance of the Republic of Azerbaijan hosted the 15th meeting of the Coordination Council on Accounting under the Executive Committee of the Commonwealth of Independent States.


Application of the rule is to contribute to reducing the state budget dependency on oil revenue volatility and considerably strengthen aggregate fiscal discipline. The fiscal rule sets a mechanism for calculating – based on the country`s net financial assets – the upper limits both on oil revenues to be spent in a particular fiscal year and on a consolidated budget expenditure.


In the first six months of 2018, the state budget revenues were 9.821.6 billion manats, while expenditures made 9.524.3 billion manats. The state budget saw a surplus of 297.3 million manats.


İyulun 1-də Polşanın paytaxtı Varşava şəhərində Beynəlxalq Valyuta Fondu (BVF) və Dünya Bankının Azərbaycanın təmsil olunduğu Seçki Qrupunun toplantısı öz işinə başlayıb.


On June 30-July 1, 2018, the Board of Governors of the Black Sea Trade and Development Bank will hold its Annual Meeting in the Russian city of Sochi. Azerbaijan will be represented at the Annual Meeting by member of the Bank`s Board of Governors, Minister of Finance Samir Sharifov.


At the last plenary meeting of its extraordinary session on June 29, 2018, the Milli Majlis of the Republic of Azerbaijan discussed a draft law on amendments to the 2018 state budget.


On June 20-12, 2018, Minister of Finance of the Republic of Azerbaijan Samir Sharifov held meetings with a delegation led by the Asian Development Bank (ADB) Director General for Central and West Asia Department Werner Liepach and a delegation of members of the ADB Board of Directors led by Kshatrapati Shivaji.


To see draft Law of the Republic of Azerbaijan “Making amendments to the Law of the Republic of Azerbaijan “On 2018 state budget of the Republic of Azerbaijan” click the link below.


On June 1, Minister of Finance of the Republic of Azerbaijan Samir Sharifov met with a delegation led by European Commissioner for Budget & Human Resources Günther Oettinger.