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State Budget for 2017 is the worst in 10 years

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The draft state budget for 2017 shows that this is one of the worst budget in the past 10 years, said on Friday, the famous economist Gubad Ibadoglu  during public discussions in the draft budget public hearings for the coming year.Speaking specifically about the state budget, the expert said that it is about a little more than $ 9 billion.  Ibadoglu said that the biggest budget was in 2013 - $ 25 billion. "Today's figures show that Azerbaijan is not developed, and steps back,"  he said. Citing specific figures, the economist pointed out that 38% of the budget will be formed at the expense of oil revenues, 45% - taxes, 14% - from the Customs and 3% - other spheres.
"Analysis of the last 10 years shows the inefficient use of budget funds. Over the years 24.4 billion manats,  mainly construction. Unproductive expenditure of investment is now putting pressure on the state budget, which does not get the return of finances invested for 10 years," said Ibadoglu. Referring to the increased cost of debt servicing, the economist said that the budget for 2017, this item of expenditure is 12.4%.
"Those who took a loan, could not spend them effectively. As a result, the burden of debt repayment falls on the state budget, which is replenished at the expense of the taxpayers, what are you and I,"  he said.
Concerning  specific proposals to the government, Ibadoglu said that we should publish a monthly report on the execution of the state budget, to conduct a classification of programs financed from the state budget, reduce operational expenses, including expenses for administrative staff. 


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    In his newsletter, the events ( round tables, seminars, trainings, etc), publications, press releases, including the information on business trips to abroad realized within the framework of projects by the Economic Research Center are covered in both languages 

( Azerbaijan and English).


Program and financial report of  Economic Research Center covering activities in 2012