The Draft Law of the Nakhchivan Autonomous Republic “On the Execution of the 2025 Budget of the Nakhchivan Autonomous Republic” has been adopted in the second reading

On July 10, a session of the Supreme Assembly of the Nakhchivan Autonomous Republic was held as part of its extraordinary session. Bakhtiyar Mammadov, First Deputy Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic, announced that three items had been included in the meeting's agenda. Following the approval of the agenda, the first item—the Draft Law of the Nakhchivan Autonomous Republic “On the Execution of the 2025 Budget of the Nakhchivan Autonomous Republic,” which was under consideration for the second reading—was submitted for discussion. Mubariz Bayramov, Chairman of the Economic Policy Committee of the Supreme Assembly of the Nakhchivan Autonomous Republic, presented information regarding the draft law and outlined the committee's opinion. Subsequently, Hasan Ismayilov, Minister of Finance of the Nakhchivan Autonomous Republic, delivered a speech. The Minister presented figures regarding the execution of the Nakhchivan Autonomous Republic's 2025 budget and noted that, thanks to the special attention and care shown to Nakhchivan by the country's leadership, the reporting year was characterized by successful economic indicators, a significant increase in budget revenues, and dynamic development across various sectors of the economy. It was noted that financing budget expenditures primarily through local revenues was a key priority during the reporting year. As a result of increased local collections, savings were achieved on subsidy funds, and a significant portion of budget expenditures was financed through internal sources. Hasan Ismayilov also discussed the work undertaken to improve the regulatory-legal and institutional framework for public finance management. It was stated that key objectives include refining fiscal policy, enhancing the results-oriented use of public funds, strengthening financial control, and implementing digital technologies and innovative solutions. In his concluding remarks, the Minister emphasized that the economic and fiscal policies being implemented serve to strengthen the financial sustainability of the Nakhchivan Autonomous Republic, improve the population's well-being, and realize established development goals. Following the discussions, the draft Law of the Nakhchivan Autonomous Republic "On the Execution of the 2025 Budget of the Nakhchivan Autonomous Republic" was put to a vote and adopted in the second reading.