By Trend

The Ministry of Finance of Azerbaijan has submitted a draft state budget and consolidated budget for 2020 to the Azerbaijani Cabinet of Ministers, Trend reports referring to the ministry.

According to the report, the Minister of Finance Samir Sharifov said during the meeting that the priorities of social and economic development identified by President Ilham Aliyev were taken into account when preparing the draft state budget and the consolidated budget for 2020.

Sharifov went on to say that the requirements of the legislation on the budget system were also taken into account, and the processes taking place in the global economy were studied.

The main parameters of the consolidated and state budget of 2020 were reviewed and agreed upon by Azerbaijan’s Financial Stability Board, and then used to draw up the budget.

The Cabinet of Ministers has to discuss the draft by September 25 and submit it to the President of Azerbaijan for consideration. The presidential administration of Azerbaijan should submit the draft for consideration by the parliament no later than October 15.