Azerbaijan to allocate 700 mln AZN to economic reforms in 2018

Baku. 23 October. REPORT.AZ/ Expenses at the state budget of Azerbaijan for 2018 for implementation of economic reforms considered 701 mln AZN.

Report informs citing the presentation of 2018 state and summary budget drafts.

According to draft, key priority of fiscal policy in 2018 will be dynamic development of non-oil sector and increase of specific weight of the sector's revenues in non-oil GDP and budget revenues.

"In addition, promotion of effective tax system, continuation of stimulating tax reforms in the field of small and medium business, development of free competition environment, continued work on promotion of production and investments, improvement of flexible customs-tax policy ensuring internal market security will be main tasks", document says.

It is also noted in the draft that 5.2 million AZN is expected to be allocated from the state budget for 2018 to further provide financial assistance to municipalities.