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    Ali Masimli: Bringing shadow economy to taxes to provide additional billions to state budget

    According to the MP, tight monetary policy can suppress oil industry

    Baku. 23 February. REPORT.AZ/ Infusion of additional billions in the state budget of Azerbaijan is possible by bringing the shadow economy to taxes.

    Report informs MP Ali Masimli said during the discussions at today's plenary session of the parliament of amendments to the state budget for 2016: "The budget is designed to help the structural changes.

    Funds in the amount of 18.5 bln AZN is a significant amount."

    The MP also noted that the Central Bank carries out a tight monetary policy to reduce inflation, which in the future would slow down the development of non-oil sector.

    "Hard policies" will strangle "the oil industry and prevent actions towards the export potential due to the non-oil sectors.I appeal to the Cabinet of Ministers to perform the function of coordinator. Tight monetary policy could stifle reform", said A.Masimli.

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