BAKU, Azerbaijan, October 22. Azerbaijan allocated up to 58 billion manat ($34.1 billion) from the state budget for defense spending from 2005 through 2025, the country's Deputy Minister of Finance Azer Bayramov said, Trend reports.
Speaking at a scientific-practical conference on “Economic
Foundations of State Sovereignty and Economic Independence,”
dedicated to the “Year of Constitution and Sovereignty,” held at
the Parliament Committee on Economic Policy, Industry, and
Entrepreneurship, Bayramov articulated that the financial
allocations were strategically channeled towards augmenting
national security and defense infrastructures, in addition to
bolstering the nation’s material and technical frameworks.
During this timeframe, the fiscal appropriation for defense
escalated by a factor of 29, culminating in a total of 8.4 billion
manat ($4.9 billion).
Will be updated
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