The Ministry of Finance has submitted proposals to the Cabinet of Ministers to revise the state budget for 2020.
The statement came from the Ministry of Finance.
It was noted that in accordance with the budget system, relevant changes were made in the budgets of the Nakhchivan Autonomous Republic, the State Social Protection Fund, the Unemployment Insurance Fund and the State Oil Fund.
The adjusted indicators of the state and consolidated budgets were discussed and approved by the Financial Stability Council of the Republic of Azerbaijan.
The main purpose of the changes in the state and consolidated budgets for 2020 is to form a reserve for additional defense and security measures.
In addition, measures to prevent the negative impact of the COVID-19 pandemic on our country, including additional needs for large-scale measures in the field of health to protect the health of the population, as well as economic activities affected by the pandemic, businesses and vulnerable groups creation of additional financial guarantees for the continuation of this state support, as well as ensuring the elimination of the expected imbalance between the increasing expenditures and decreasing revenues of the state budget in the second half of the year for the above reasons