BAKU, Azerbaijan, February 24. Azerbaijan is amending the “Rules for the Management, Accounting, and Use of the Fund for Guaranteeing Public Debt Obligations and Guarantees,” Trend reports.
According to the information, this decision was approved by a resolution of the Cabinet of Ministers of the Republic of Azerbaijan on April 10, 2008.
The relevant decision was signed by Prime Minister Ali Asadov.
According to the decision, in compliance with the law "On the budget system", if budget loans granted from the state budget to the budget of the Nakhchivan Autonomous Republic, local budgets, budget organizations, public legal entities established on behalf of the state and other legal entities receiving financial assistance from the state budget cannot be repaid by those entities during the year, the Ministry of Finance may use the fund's funds to close (repay) the budget loans granted.