Azerbaijan managed to neutralize negative consequences of external shocks

The operational measures taken in 2015 under the leadership of Azerbaijan’s President Ilham Aliyev made it possible to neutralize the negative consequences of external economic shocks, said Azerbaijan’s Finance Minister Samir Sharifov.

He made the remarks during the discussions on the draft law “On execution of the 2015 state budget” at the plenary meeting of Azerbaijani parliament May 31.

“The 2015 state budget was executed under difficult economic conditions,” said the minister. “The prices for the primary export product, oil, sharply decreased since mid-2015 and this created a number of problems for the country’s economy.”

The MPs voted for the adoption of the draft law “On execution of the 2015 state budget”.

Azerbaijan’s state budget revenues stood at 17.498 billion manats in 2015 and 41.6 percent of the budget revenues accounted for the non-oil sector.

Source: Trend