15:17 - 13.11.2023

---

November 13, Fineko/abc.az. In the following years, it is important to continue the adopted fiscal policy aimed at consistently reducing the ratio of the deficit of the non-oil base of the consolidated budget to non-oil GDP and ensuring budget expenditures by increasing revenues from the non-oil sector.

ABC.AZ reports that Finance Minister Samir Sharifov said this during the discussion of the Draft Law on State Budget 2024 at today's Milli Majlis meeting.

The minister said that the oil price estimated by leading organizations amid the current favorable price environment in the world energy markets exceeds the oil price adopted based on conservative principles when forecasting budget indicators: "Expansion of natural gas production and sales, revenue growth in the non-oil sector, partial compensation for the expected decline in oil/gas production and oil revenues, maintaining the assets of the State Oil Fund at the stable level in the medium term within the objectives of the budget rule makes it possible to increase the volume of transfers from the Fund to the State Budget."