State Budget For Azerbaijan In 2024 To Undergo Updates

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 23. The Azerbaijani statebudget for 2024 will see amendments, the Finance Minister ofAzerbaijan Samir Sharifov said during the discussion of the draftlaw "On the execution of the state budget of Azerbaijan for 2023"in the Azerbaijani parliament on May 23, Trend reports.

"Everybody aims to see the proportion of spending in the GDPrise. This percentage rose to thirty percent or even higher in2023. However, that is the state budget; the combined budget is farlarger, at about 34.5 percent," he said.

Sharifov emphasized that the head of state has submitted a billto the Milli Mejlis for the revision of the state budget for2024.

"If this draft law passes, state budget expenditures will reach34% of anticipated GDP, and this is a marked improvement. However,costs are rising significantly, and this must be acknowledged," headded.

To note, Azerbaijan's state budget revenues increased by 16percent in 2023, reaching 35.5 billion manat ($20.8 billion).Expenditures of the state budget reached 36.4 billion manat ($21.3billion), which is 13.7 percent higher than in 2022.


Trend News Agency

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