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)******

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New fiscal rule signed in to law

New fiscal rule signed in to law

29.08.2018

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.

 

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.

Update on state budget execution in the six months of 2018

Update on state budget execution in the six months of 2018

10.07.2018

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.

 

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.

 

Revenues

Azerbaijan`s minister of finance to attend Annual Meeting of Black Sea Trade and Development Bank

Azerbaijan`s minister of finance to attend Annual Meeting of Black Sea Trade and Development Bank

29.06.2018

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.

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.

Samir Sharifov attends meeting of Election Group of IMF and World Bank

Samir Sharifov attends meeting of Election Group of IMF and World Bank

02.07.2018

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

A meeting of the Election Group of the International Monetary Fund (IMF) and the World Bank, which features Azerbaijan, kicked off in the Polish capital of Warsaw on July 1.

Co-organized by Poland`s National Bank and Ministry of Finance, the meeting will end on July 2. Azerbaijan is represented at the event by Minister of Finance Samir Sharifov.

Milli Majlis approves amendments to 2018 state budget

Milli Majlis approves amendments to 2018 state budget

29.06.2018

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.

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.

Draft Law “Making amendments to the Law of the Republic of Azerbaijan “On 2018 state budget of the Republic of Azerbaijan” was placed on the official website of the Ministry of Finance

Draft Law “Making amendments to the Law of the Republic of Azerbaijan “On 2018 state budget of the Republic of Azerbaijan” was placed on the official website of the Ministry of Finance

21.06.2018

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.

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.

Draft Law “Making amendments to the Law of the Republic of Azerbaijan “On 2018 state budget of the Republic of Azerbaijan”

Ministry of Finance hosts meetings with ADB Director General for Central and West Asia Department and members of the bank`s Board of Directors

Ministry of Finance hosts meetings with ADB Director General for Central and West Asia Department and members of the bank`s Board of Directors

23.06.2018

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.

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.

Ministry of Finance hosts meeting with European Commissioner for Budget & Human Resources

Ministry of Finance hosts meeting with European Commissioner for Budget & Human Resources

01.06.2018

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. 

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.

Milli Majlis passes law on execution of 2017 state budget

Milli Majlis passes law on execution of 2017 state budget

31.05.2018

The Milli Majlis passed the Law of the Republic of Azerbaijan “On the execution of the 2017 state budget of the Republic of Azerbaijan”.

The Milli Majlis passed the Law of the Republic of Azerbaijan “On the execution of the 2017 state budget of the Republic of Azerbaijan”.
The budget revenues were executed in the amount of 16.516.7 billion manats against the projected 16.766 billion manats, registering a 98.5 percent budget execution. The non-oil sector incomes accounted for 52.3 percent of the 2017 state budget revenues, representing a 5 percent growth from the 2016 budget.

Minister of Finance Samir Sharifov meets with French minister of Europe and foreign affairs

Minister of Finance Samir Sharifov meets with French minister of Europe and foreign affairs

27.05.2018

Minister of Finance of the Republic of Azerbaijan Samir Sharifov met with Minister of Europe and Foreign Affairs of the French Republic Jean-Yves Le Drian on May 27.

Minister of Finance of the Republic of Azerbaijan Samir Sharifov met with Minister of Europe and Foreign Affairs of the French Republic Jean-Yves Le Drian on May 27.

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