BAKU, Azerbaijan, September 10. Azerbaijan recorded growth in the volume of funds allocated to public procurement against the backdrop of an increase in both gross domestic product (GDP) and state budget expenditures in the past year.
Data obtained by Trend from the Accounts Chamber indicates that the share of procurement in GDP rose by 1.8 percentage points, and in budget expenditures by 5.3 percentage points, reaching 7.8 percent and 26.1 percent, respectively, compared to the previous year.
The information noted that one of the key changes in this area was the enforcement of the new edition of the Law of the Republic of Azerbaijan “On Public Procurement.”
“This change has significantly influenced both the volume and methodology of public procurement. The new legislative framework requires procurement to be carried out at the expense of financial resources, thereby expanding the scope of the Law,” the statement noted.
Moreover, it was also highlighted that amounts previously excluded from procurement are now covered under the new law, which has led to an increase in both the number and value of procurements.
In 2024, a total of 19,602 procurement procedures were conducted across the country, marking an increase of 57 percent compared to 2023 and 62 percent compared to 2022. The overall value of procurements reached 9,845 million manat ($5,791), reflecting growth of 30.5 percent and 45.2 percent, respectively.
