President's fund to be established

According to Farajaliyev, under the law it is planned to allot for the President's Fund 2% of the public budget (approx. 20bn manats). The individuals are also allowed to remit funds to the organization.  

The reserves of the Fund will be spent on important socio-economic events of the country, which were not stipulated in the public budget.

The bill also envisages the establishment of a mechanism on transparency of  funds, as the parliament will take once a year a report on the expenses.