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Azerbaijani finance minister: Oil revenues should be kept in reserve

23 November 2017 [11:13] - TODAY.AZ

By  Trend


An increase in the expenditures of the Azerbaijani state budget without having a permanent income can lead to unnecessary risks, said the country’s Finance Minister Samir Sharifov Nov. 22 answering the questions of MPs during the discussions on the state budget for 2018 at a plenary session of the parliament.

"I do not deny the fact that some expenses should be increased,” he said. “But an increase in expenditure without a constant income will take a short time and can lead to unnecessary risks."

“We should optimally regulate our expenses and try to increase revenues through the non-oil sector, while oil revenues should be kept in reserve, as they are always required during a difficult period, "Sharifov said.

The minister also commented on the statements of MPs about the big expenditures of state administration.

He said that the expenditures of state administration must be considered on the basis of specific figures.

"It is wrong to see this figure as a percentage,” he said. “As a result of the reforms carried out in 2017, the country saved over 17 million manat in terms of expenditures on state administration.”

(1.7002 AZN = $1 on November 22)

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