SOFAZ transfers $ 76 bln in budget over past 10 years

Baku. 21 November. REPORT.AZ/ Considering the base oil price at level of $ 45/bbl in the 2018 state budget will allow achieving the upcoming targets.

Report informs, chairman of parliamentary committee on economic policy, industry and entrepreneurship Ziyad Samadzade said during the discussion of the budget envelope at today's plenary session of the Milli Majlis: "We have transferred $ 76 billion from the State Oil Fund over the past 10 years. If that not happened, Azerbaijan could face risks”.

The chairman of the committee said that despite the decline in oil production in 2018, the country is forecasting a general economic growth: "The most important issue is the development of the processing industry, the pace of industrialization has risen. Production of new industrial parks exceeded 600 mln AZN”.

Lawmaker added that Azerbaijan is one of the 10 countries in the world with the least debts: “Debt exit strategy was developed in the country”.

"Production of new industrial parks exceeds 600 mln AZN", he stated.