Fi­nance Min­is­ter talks achieve­ments, fu­ture plans

Azer News - - Front Page - By Narmina Mam­madova

Thanks to eco­nomic re­forms, in­comes of the Azer­bai­jani pop­u­la­tion in­creased by 9.8 per­cent in Jan­uary-Oc­to­ber 2018, Azer­bai­jani Min­is­ter of Fi­nance Samir Shar­i­fov said on De­cem­ber 4, Trend re­ported.

Thanks to eco­nomic re­forms, in­comes of the Azer­bai­jani pop­u­la­tion in­creased by 9.8 per­cent in Jan­uary-Oc­to­ber 2018, Azer­bai­jani Min­is­ter of Fi­nance Samir Shar­i­fov said on De­cem­ber 4, Trend re­ported.

Shar­i­fov pointed out that ac­cord­ing to the bud­get of 2019, th­ese re­forms aimed at im­prov­ing the liv­ing con­di­tions of the pop­u­la­tion will be con­tin­ued next year, like this year.

“Ex­pen­di­tures fo­cused on so­cial se­cu­rity will in­crease by 14 per­cent, which, of course will have a pos­i­tive im­pact on the so­cial sit­u­a­tion of cit­i­zens of the coun­try. For this sphere, 7.5 bil­liard man­ats were al­lo­cated,” the min­is­ter said.

He noted that the state bud­get ex­pen­di­tures for the health sec­tor will in­crease by 42.4 per­cent, ed­u­ca­tion - by 11.8 per­cent, so­cial se­cu­rity - by 12.4 per­cent, cul­tural sec­tor - by 9.8 per­cent.

Shar­i­fov added, such so­cial projects as the con­struc­tion of schools, res­i­den­tial build­ings, hos­pi­tals, etc. are planned to be fi­nanced at the ex­pense of the state bud­get.

“Work will also be car­ried out to im­prove the liv­ing con­di­tions of in­ter­nally dis­placed per­sons, for whom 200 mil­lion man­ats will be al­lo­cated,” Shar­i­fov said.

He stressed that the cri­te­rion of need and the cost of liv­ing for the com­ing year in­creased too.

Shar­i­fov also noted that it is planned to in­crease the num­ber of stu­dents study­ing at the ex­pense of the state by 20 per­cent.

The min­is­ter said that in June of this year, im­por­tant changes were made to the law “On the Bud­get Sys­tem”. Ac­cord­ing to th­ese changes, oil rev­enues will be used more dis­ci­plinedly.

“With high oil prices, we will limit our ex­penses and, in this con­nec­tion, a new con­cept of “oil rev­enues that can be used” has been in­tro­duced. Th­ese changes will al­low us to pre­dict our in­comes and ex­penses and make plans in ac­cor­dance with th­ese fore­casts,” the min­is­ter noted.

Speak­ing about the sup­port of agri­cul­ture, the min­is­ter noted that from next year this sphere will be ex­empt from tax­a­tion for the next five years.

Azer­bai­jan pays great at­ten­tion to the devel­op­ment of agri­cul­ture. As a re­sult of the mea­sures taken, the pro­duc­tion of agri­cul­tural prod­ucts over the past 15 years has in­creased 1.7 times, and in Jan­uarySeptem­ber 2018 - by 4.3 per­cent. The share of agri­cul­tural prod­ucts in Azer­bai­jan’s non-oil ex­ports ac­counts for more than 47 per­cent.

Samir Shar­i­fov also spoke about the sub­si­dies is­sued to farm­ers say­ing that they will also be in­creased (for ex­am­ple, sub­si­dies for the pur­chase of pes­ti­cides will in­crease by 5 times).

He went on to say that one of the im­por­tant tasks fac­ing the state is to en­sure trans­parency in the salary sys­tem.

“For this pur­pose, the Tax Code has been amended and those, who work in the non-oil and pri­vate sec­tors for seven years and re­ceiv­ing up to 8,000 man­ats will be ex­empt from in­come tax. This will lead to the fact that en­trepreneurs will no longer seek to hide their real in­comes,” said the min­is­ter.

He also noted that one of the in­no­va­tions is that the Azer­bai­jan`s Par­lia­ment adopted the law “On the bud­get for 2019” from the third read­ing and con­struc­tive and im­por­tant dis­cus­sions were held dur­ing the read­ings.

Azer­bai­jan is in­ter­ested in in­creas­ing non-oil ex­ports, Azer­bai­jani Min­is­ter of Fi­nance Samir Shar­i­fov said.

The min­is­ter noted that the changes made to the bud­get this year ac­tu­ally re­duced the ex­pected tax rev­enues from the non-oil sec­tor.

He re­called that the head of state gave in­struc­tions in this re­gard, the rel­e­vant struc­tures, in par­tic­u­lar the min­istries of econ­omy and agri­cul­ture, carry out tar­geted mea­sures.

"In ad­di­tion, the state ap­plies a spe­cial mech­a­nism - the in­cen­tive mech­a­nism, that is, we en­cour­age ex­ports," Shar­i­fov added.

Speak­ing about the brand "Made in Azer­bai­jan", the Min­is­ter of Fi­nance said that the state is tak­ing the nec­es­sary mea­sures to par­tic­i­pate in in­ter­na­tional ex­hi­bi­tions.

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