Azerbaijani minister: Financially, some state-owned companies aren't stable

2020-06-02 09:19:25

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 2

By Elchin Mehdiyev- Trend:

The financial situation of a number of state-owned enterprises in Azerbaijan is unsatisfactory, said Azerbaijani Minister of Finances Samir Sharifov, Trend reports.

He made the remark during the discussion of the issue on the implementation of the state budget for 2019 at the meeting of the Committee on Economic Policy, Industry and Entrepreneurship of the Azerbaijani Parliament.

'Last year, a number of state-owned enterprises were subsidized. First of all, it is Baku Metro. Its revenues do not cover the operational costs, so the government helps out," he said.

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The minister added that in case of Azeristiliktechizat OJSC, the company is basically subsidized by the state, since the tariffs for the population don't cover the operating costs.

"Last year, some financial assistance was provided," said the minister. "The financial situation of Azeristiliktechizat OJSC is not satisfactory this year either. That fact must be taken into account, the minister said.

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