Azerbaijani minister discloses monetary & fiscal policy priorities for 2019

  05 November 2018    Read: 1012
Azerbaijani minister discloses monetary & fiscal policy priorities for 2019

The prevention of the influence of external macroeconomic threats on the Azerbaijani economy will be one of the main tasks of monetary and fiscal policy in 2019, Azerbaijani Minister of Finance Samir Sharifov said.

Sharifov made the remarks at a joint meeting of parliamentary committees in Baku on Nov. 5 during the discussion of the state budget for 2019.

The prevention of risks of import increase and export reduction amid weakening currencies of the main trading partners of Azerbaijan will also be among the priorities, the minister stressed.

“However, budget stability, ensuring medium-term sustainability are also of particular importance,” Sharifov added. "In 2019 and years ahead, the state and consolidated budgets will be prepared in accordance with the new budget rules.”

The Azerbaijani state budget revenues for 2019 are projected at 22,917.5 million manats (including centralized income - 22,180.734 million manats, local income - 736.766 million manats).

The state budget expenses are projected at 24,780.1 million manats (including centralized expenses – 23,939.288 million manats, local expenses - 840.812 million manats).

The forecast of the oil price, outlined in the state budget for 2019 to calculate oil revenues, is $60 per barrel.

Thus, 59.8 percent of the forecast state budget revenues for 2019 or 13.7 billion manats will account for the oil sector, 40.2 percent or 9.217 billion manats - for the non-oil sector.

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