BAKU, Azerbaijan, November 4. Azerbaijan's
Chamber of Accounts has proposed introducing a limit on the growth
rate of current expenditures into the budget rule, alongside the
non-oil primary deficit target.
Chairman of the Chamber of Accounts Vugar Gulmammadov presented
the initiative during a meeting of the Parliamentary Committee on
Economic Policy, Industry and Entrepreneurship, where he addressed
the draft state budget for 2027.
According to him, the ratio of the consolidated budget's non-oil
primary deficit to non-oil gross domestic product (GDP) is
projected to stand at 17.1% in 2027, down 1.7 percentage points
from the corresponding figure for 2026.
He said that this indicator is expected to decline by an average
of 2.1 percentage points annually over the medium term.
"The ratio of the consolidated budget's non-oil primary deficit
to non-oil GDP is one of the most advanced and professionally
developed fiscal anchors designed to safeguard macroeconomic
stability in resource-dependent countries. We believe that a limit
on the growth rate of current expenditures could be added as an
additional anchor alongside the non-oil primary deficit rule,"
Gulmammadov emphasized.
The chairman of the Chamber of Accounts, Gulmammadov added that
Azerbaijan is expected to comply with the medium-term ceiling set
for the ratio of public debt to GDP.
