Azerbaijan's Accounting Chamber offers to tighten fiscal policy

Azerbaijan's Accounting Chamber has proposed to tighten fiscal policy due to low revenues in the form of dividends paid by the state-owned enterprises.

Chamber Head Vugar Gulmammadov voiced this offer addressing the discussions at the plenary session of the Azerbaijani Parliament on the execution of the 2017 state budget on May 31.

Gulmammadov explained his proposal with the fact that last year the forecast on execution of the incomes from enterprises, whose shares are owned by the state, amounted to 42.9 percent.

He added that this is the lowest performance indicator of the budget forecasts from all sources of the state budget revenues.

Meanwhile, according to him, the highest percentage of the execution of the budget forecast was ensured through the road tax - 151 percent.

Gulmammadov, touching upon the structure of GDP in 2017, said that the share of the non-oil sector was 62.8 percent. Then, the specific weight of the oil sector increased by 3.4 percentage points, to 37.2 percent.