Azerbaijan Beefing Up Its Military Capabilities With Hefty Chunk Of Change

11/25/2024 6:09:03 AM

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 25. The Azerbaijani government has outlined a budget plan for 2025 focused on implementing the priorities set by the President of the Republic of Azerbaijan Ilham Aliyev, with a strong emphasis on social-economic development, national security, and post-conflict reconstruction, and the budget for 2025 reflects the country's commitment to the goals of the Strategy for Socio-Economic Development of the Republic of Azerbaijan (2022-2026), which includes plans for rebuilding Karabakh and Eastern Zangezur, reintegrating territories liberated from occupation, and ensuring the safe return of displaced persons, the country's Finance Minister Samir Sharifov said, Trend reports.

In his address to the Azerbaijani Parliament on November 25, Sharifov emphasized that two-thirds of the proposed state budget expenditures, totaling 27.7 billion manat ($16.2 billion) out of an overall 41.4 billion manat ($24.3 billion) for 2025, will be designated to finance the aforementioned priority areas.

"Specifically, 4 million manat [$2.3 million], or 9.7 percent of the total state budget expenditures, has been allocated to support the activities outlined in the First State Program for the Great Return funding will also continue efforts to develop residential areas and villages in the region.

The budget is packed to the gills with hefty investments aimed at beefing up the nation's military might, security, and defense framework, with 8.4 billion manat [4.9 billion], or 20.3 percent, designated for the modernization of the military and the defense sector.

This represents an increase of 1.27 billion manat [747 million], or 17.8 percent, compared to the 2024 forecast, and a rise of 2.54 billion manat [1.49 billion], or 43.4 percent, over the executive indicator for 2023," Sharifov concluded.

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