Positive qualitative changes in the economy of Azerbaijan were reflected in the draft budget for 2015, said the Speaker of the Milli Majlis (Parliament) Ogtay Asadov Nov.18 at a plenary session of the Parliament to discuss the draft law On State Budget for 2015.

He said that the draft budget for 2015 has been prepared taking into account the real level of development of the country and the possible negative impact of economic and political processes taking place in the world.

“In connection with the ongoing events in the world economy the price of oil in the budget calculations was taken at the level of $90 per barrel,” said the speaker. “This is a mobilizing factor for our financial and economic sectors.”

He said that the state budget for 2015 provides the basis for further sustainable development of the economy of Azerbaijan and the implementation of government programs. “Budget revenues for 2015 increased by 5.7 percent compared with the current year and are projected at 19.438 billion AZN (35.5 percent of GDP) and budget expenditures are expected to reach 21.1 billion AZN (with growth of 5.2 percent),” said Asadov. “Such forward-looking indicators in terms of political and economic instability in the world and the region can be considered acceptable.”

The draft laws “On the budget of State Social Protection Fund of Azerbaijan for 2015”, “On Living Wage for 2015”, “On the level of need criteria for 2015”, “On cost estimates of the Milli Majlis for 2015”, “On cost estimates of the Accounting Chamber for 2015” will be also discussed in three days debate. The agenda also includes a discussion of the draft law on the approval of the Memorandum of Understanding “On the project coordinator of the OSCE in Baku between the government of Azerbaijan and the OSCE.”

The official exchange rate for November 18 is 0,.7845 AZN / USD.