Reasons Behind Revision Of Azerbaijan's State Budget For 2024 Revealed
Date
5/27/2024 5:18:17 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 27. Factors causingrevision of the state budget of Azerbaijan for 2024 have beennamed, Finance Minister Samir Sharifov said during the discussionof amendments to the“On State Budget of the Republic of Azerbaijanfor 2024” law at the meeting of the Milli Majlis' (Parliament)Committee on Economic Policy, Industry, and Enterprising, Trend reports.
The minister emphasized several factors prompting the revisionof the state budget. These include the need to create additionalfinancial support for the implementation of measures outlined inthe State Program of Great Return.
Additionally, Sharifov said that there is a focus onstrengthening the defense capacity and national security of thestate, even after the full restoration of territorial integrity andsovereignty. Moreover, there is a requirement for additionalfunding to continue modernizing ammunition and providing technicalsupport to the army.
To note, the forecast of revenues in the revised state budget ofAzerbaijan for 2024 has been increased from 34.17 billion manat, or$20.1 billion, to 36.35 billion manat, or $21.38 billion, and theforecast of expenditures has been increased from 36.76 billionmanat, or $21.6 billion, to 39.7 billion manat, or $23.35billion.
Azerbaijan's state budget revenues in the first quarter of thisyear exceeded the forecast by 8.07 percent, or 659.5 million manat,or $387.94 million.
The country's state budget revenues exceeded 9.23 billion manat,or $5.4 billion, which is 11.4 percent more than the indicator forthe same period last year.
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