BAKU, Azerbaijan, July 8. Experts from the International Monetary Fund (IMF) have predicted reduction of the non-oil deficit in Azerbaijani state budget to 20 percent of GDP by 2025, Trend reports via the fund.
According to IMF experts, the reduction scenario can be realized by keeping the public debt-to-GDP ratio below 20 percent.
The experts welcomed the revision of the state budget (fiscal rule) and supported the new targets for the Azerbaijani economy.
Besides, according to them, it’s necessary to clearly formulate provisions and safeguards of the observance of the fiscal rule over time, including correction mechanisms and strong fiscal oversight.
The IMF experts have also welcomed the development of a rolling expenditure framework for such sectors as education, agriculture and environmental protection for 2022-2025.
In accordance with recent amendments, the revenues to the state budget of Azerbaijan for this year were approved in the amount of over 29.19 million manat ($17.18 million), and expenditures – 32.3 million manat ($19 million).