IMF offers Azerbaijan to amend budget-tax policy

In future, income of Azerbaijan from oil will be the same, said IMF mission head on Azerbaijan Nadim Ilahi.

To him, provision durability of budget incomes is important for Azerbaijan and steps should be taken in this direction: ‘The government agrees with our recommendation. IMF welcomes decision of Azerbaijan on increasing budget expenses irrespectively from the oil price’.

Ilahi noted that in general, Azerbaijan should make changes in budget-tax policy: ‘Fiscal position of Azerbaijan must change a little. Non-oil budget deficit of the country is high. That is why the expenses must be reduced; incomes from non-oil sector must be increased’.

Touching upon the activity of SOFAZ, mission head noted that the FUND was managed professionally: ‘There are different funds in the world and they change investment directions depending on the market. The last changes of the SOFAZ were made for diversification of investment portfolio, and that is normal’.


/APA/