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Azerbaijan reveals state budget funds for Azerbaijan's Mortgage and Credit Guarantee Fund in 2023

Economy Materials 4 November 2022 13:25 (UTC +04:00)

BAKU, Azerbaijan, November 4. Funds in the amount of 87.7 million manat ($51.8 million) will be allocated from the state budget of Azerbaijan for 2023 to Azerbaijan's Mortgage and Credit Guarantee Fund in order to provide citizens with preferential mortgage loans, Trend reports citing the draft law of the state budget of the Republic of Azerbaijan for 2023.

In addition, funds for the subsidies to the entrepreneurs will amount to 12.3 million manat ($7.2 million). Thus, the total allocation of 100 million manat ($58.5 million) to the Fund is provided.

The revenues to the state budget for 2023 are forecasted the amount to 30.7 billion manat ($18 billion), which is 5.2 percent more than in 2022, and 16.4 percent more than in 2021, which is the highest indicator in the entire history of the country.

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