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Designed initially as a supplementary measure to lubricate the highly centralized budget, the extra-budgetary funds nationwide had grown tremendously over the years. It calls for measures to cut expenditure and strengthen controls over spending to eliminate extra-budgetary outlays. On July 31, 2001, an extra-budgetary oil fund decreed by Aliyev in late 2000 began organising the management of billions of dollars of expected oil wealth with the aim of diversifying the country's economy. |
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