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Residue of treasure generated as at end of last year to be used this year

Residue of treasure generated as at end of last year to be used this year

28 January 2016 13:59 (UTC +04:00)

According to him, taking into account the oil price decline in 2014 and 2015, the budget expenditures will be reduced: “As a result of these steps, $2.2 bln was saved in foreign currency reserves of SOFAZ. 2015 state budget was executed only with AZN 633 mln-deficit instead of AZN 1.7 bln. That’s AZN 1.1 bln was saved in theexpenditures part of the budget. These funds are planned to be used in 2016”.

Sharifov added that 2015 state budget was executed by 88.2% on revenues, 84.3% on expenditures.

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