• Updated 20.09.2021 09:37
  • Created 15.09.2021 14:30

Discussions on macroeconomic forecasts go on


As is well known, the Ministry of Finance of the Republic of Azerbaijan has developed "Macro-fiscal Framework for 2022-2025 and a Statement on the Initial Indicators of the Consolidated and State Budgets for 2022" and posted the document on the official website of the Ministry of Finance on 08/09/2021. The document contains macroeconomic forecasts for 2022 and the medium term, priorities of government spending for the socio-economic development of the country's economy and accordingly, the main directions of fiscal policy, state budget revenues and expenditures, as well as basic information on government debt. After the publication of the document on the website of the Ministry of Finance, numerous requests are received from the media about the sources of growth in state budget revenues in 2021.

According to the legislation, information on the characteristics of the draft state budget and the consolidated budget for the next year and the next three years, as well as macroeconomic forecasts for this period shall be disclosed for public discussion before their submission to the Parliament.

Pursuant to the current practice, the main economic indicators are coordinated with the relevant state bodies, including the Ministry of Economy, prior to the publication of the document. Note that this practice has been applied in previous years.

Discussions of the key characteristics of the document took place this year as well. However, some indicators, including the indicators for state budget revenues, have not yet been determined. The document is preliminary in nature, and discussions with the Ministry of Finance and other relevant structures will continue in the coming days.

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