The budget year in Azerbaijan can start on April 1

The budget year in Azerbaijan can start on April 1
It is proposed that the calendar year related to the state budget in Azerbaijan starts on April 1 and ends on March 31.

Qazet.az reports that Tahir Mirkishili, the chairman of the Economic policy, industry and entrepreneurship committee of the Milli Majlis, made a speech at the plenary session of the parliament held today.

"For many years, the implementation of the budget's income and expenses, the fact that most of the expenses coincided with the IV quarter of the year, the need to complete the financing of the projects by the end of the year, the activity in some state bodies, for example, in the education sector, started in September, the low economic activity in the I quarter of the year, this whether it is caused by objective or subjective reasons is always a subject of discussion," he said.

"Besides accepting that there are various mechanisms for solving these problems, in order to solve the issue at the macro level, we propose to change the budget year in our country, to start it on April 1 instead of January 1, and to end it on March 31 instead of December 31. Currently in many countries - Great Britain, Singapore, Japan and Kuwait, the budget year begins on April 1 and ends on March 31. We understand that the transition to this is a complicated process, but we believe that the transition will facilitate the solution of many problems once and for all. We believe that such a change it can enable the financing of projects, events, budget planning and parliamentary debates to be more efficient", T. Mirkishili added.