Azerbaijan Highlights Nation's Annual Spending Growth In Recent Years

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 20. Azerbaijan has increased spending by up to 13 percent annually in recent years, the country's Finance Minister Samir Sharifov said during the discussion of the state budget for 2025 in the parliament today, Trend reports.

"We have focused our main efforts on the non-oil sector. It's encouraging that our revenues from this sector are growing. Therefore, we must strive to avoid sharply disrupting the balance.

The minister pointed out that 46 million manat ($27 million) is allocated annually from the state budget to Azeristiliktechizat OJSC [state company engaged in heat supply to the population].

"These funds are allocated because the tariff charged by Azeristiliktechizat to the population is significantly lower than actual costs. This results in a large deficit. The efficiency of the boilers is quite low. Therefore, it is necessary to switch to more modern heating methods. Proposals on this issue are being worked on at the moment," he added.

MENAFN20112024000187011040ID1108906423