PM: Azerbaijan to keep State Oil Fund’s assets at stable level

Azerbaijani Prime Minister Ali Asadov has said that spending growth will be connected with sustainable sources of income in Azerbaijan in the medium term, while the assets of the State Oil Fund of the Azerbaijan Republic (SOFAZ) will be maintained at a stable level.

Asadov made these remarks at a plenary meeting of the Azerbaijani parliament, Report informs.

He noted that the reforms related to the application of the medium-term expenditure structure will still be carried out to assess the effectiveness of budget expenditures and control the targeted use of budget funds.

“The share of the non-oil deficit of the consolidated budget in non-oil GDP is expected to be gradually reduced in the medium term within the macro-fiscal policy. This is one of the factors having a restraining effect on inflation,” Asadov added.