17:00 - 7.06.2024

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June 7, Fineko/abc.az. For the first time in recent years, during the course of adjustments to the State Budget, the projected deficit has increased to such a record level.

ABC.AZ reports that Accounts Chamber’s chairman Vugar Gulmamedov said about this at the Milli Majlis plenary session during the discussion of the draft amendments to the Law on Execution of State Budget 2024.

"The possibility of realizing the potential of the budget in both the oil and non-oil sectors, as well as the low probability of fulfilling projected expenditures in full, suggest that the budget deficit will be less than expected," Gulmamedov added.

In the revised version of State Budget 2024, the deficit was increased by 764.3 million manats up to 3.354 bn manats. The forecast of the deficit-to-GDP ratio at the end of this year was 2.8%.