BAKU, Azerbaijan, June 3. Azerbaijan's state budget expenditures were executed at 95 percent of the forecasted amount of 39.7 billion manat ($23.3 billion), totaling 37.7 billion manat ($22.1 billion) in 2024, said Azar Amiraslanov, chairman of the National Assembly’s Committee on Economic Policy, Industry, and Entrepreneurship, Trend reports.
Speaking at a parliamentary session discussing the draft law on the execution of Azerbaijan’s 2024 state budget, Amiraslanov added that this represents an increase of 1.3 billion manat ($764.7 million) or 3.4 percent compared to 2023.
The MP noted that the state budget deficit stood at 551.8 million manat ($324.5 billion), which is six times less than the approved forecast of 3.3 billion manat ($1.9 billion). As a result, the deficit’s share of GDP decreased from the projected 2.8 percent to 0.4 percent.
“The consolidated budget revenues reached 48 billion manat ($28.2 billion), while expenditures amounted to 43 billion manat ($25.2 billion). Although the consolidated budget was projected to have a deficit of 2.1 billion manat ($1.2 billion), it recorded a surplus of 5.1 billion manat ($2.9 billion).
