“The real level of gross domestic product in 2021 significantly exceeded the predicted.” According to APA, the Minister of Finance Samir Sharifov stated this during the discussion of the draft law “On the implementation of the state budget of the Azerbaijan Republic for 2021” at today’s meeting of the Committee of the Milli Majlis on Economic Policy, Industry and Entrepreneurship.
The minister noted that the oil price was 70 percent higher than provided in the state budget.
“This created favorable conditions for the execution of the consolidated budget without a deficit. Last year, in the context of a stable national currency course, there were also negative consequences for the economic development of our country. These influences were mainly related to external factors. We are talking about inflation. In our country, there was also a higher level of inflation than expected. One of the main reasons for the growth in inflation is the increase in food prices throughout the world. This year, the process, unfortunately, continues and even worsened, ”Samir Sharifov said.