We will do everything necessary for successful, secure dev't of Azerbaijan’s Nakhchivan Ilham Aliyev

"We will do everything necessary for the successful and secure development of Azerbaijan’s Nakhchivan Autonomous Republic," Azerbaijani President Ilham Aliyev said as he received Chairman of the Supreme Assembly of Nakhchivan Autonomous Republic Vasif Talibov.

“Last year, the budget revenues of Nakhchivan amounted to about 400 million manat,” Ilham Aliyev said. “Currently, budget issues for the next year are being discussed. Of course, we will do everything necessary for the successful and secure development of Nakhchivan. However, I want to draw your attention to the following matter. Only 22 percent of Nakhchivan’s budget is generated from local revenues, i.e. only 83 million out of 383 million manat are generated from local revenues, while the remaining 300 million manat are subsidized from Baku. I believe that it is necessary to carry out work aimed at increasing local revenues in the coming years. I am sure that this will create even more opportunities for implementation of social and industrial projects.”

“Just like elsewhere in the country, transparency in the financial and economic spheres should be fully ensured in Nakhchivan,”President Aliyev noted. “I must say that as a result of the reforms, budget revenues have exceeded the plan by 850 million manat in 10 months of this year alone. One half was formed at the expense of customs and the other half at the expense of taxes."

"These funds are associated exclusively with reforms carried out in management, transparency. They allow us the opportunity to increase salaries, pensions and funds for investment projects. Therefore, when considering the budget for next year, additional steps must be taken to increase the absolute figures of local revenues and to increase the percentage of local revenues in the overall budget,” the president said.

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