BAKU, Azerbaijan, May 28. A total of 4.6 billion manat ($2.7 billion) was allocated for education expenses in Azerbaijan from last year's state budget, Trend reports.
This issue was reflected in the draft law “On the execution of the state budget of Azerbaijan for 2024,” discussed at today’s meeting of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship.
According to the budgetary orders of the relevant organizations, 4.4 billion manat ($2.6 billion) was used, which is 160.3 million manat ($94.3 million), or 3.5 percent less than the forecast, but 265.2 million manat ($156 million), or 6.4 percent more, compared to 2023.
During the fiscal reporting period, educational outlays
constituted 3.5 percent of the gross domestic product, reflecting a
0.1 percentage point increment relative to the previous year, while
representing 11.6 percent of the aggregate state budgetary
disbursements, marking a 0.3 percentage point elevation compared to
the prior fiscal year.
An aggregate allocation of 11.06 billion manat (equivalent to $6.5
billion) has been earmarked for a diverse array of sectors,
encompassing domains such as scientific research, educational
initiatives, healthcare systems, social welfare frameworks,
cultural development, athletic programs, youth engagement
strategies, and ancillary operations, as delineated by budgetary
directives from pertinent entities.
Incorporating an augmented allocation of 471.3 million manat ($276
million) from designated fiscal resources and contingency reserves,
the aggregate disbursements for these sectors constituted 30.6
percent of the overarching state budget, totaling 11.5 billion
manat ($6.8 billion). This reflects a nominal escalation of 259.4
million manat ($152 million), equating to a 2.3 percent uptick
relative to the fiscal year 2023.
In the fiscal year 2024, an allocation of 197.2 million manat
(equivalent to $116 million) was disbursed for scientific
endeavors, reflecting a deviation of 16.5 percent below the
projected expenditure, yet demonstrating a marginal increase of 1.9
percent relative to the preceding year, 2023. Allocations for
scientific endeavors constituted a mere 0.2 percent of the Gross
Domestic Product and represented 0.5 percent of the aggregate state
budgetary outlays.
