BAKU, Azerbaijan, November 11. The state budget of Azerbaijan for 2023 provides for the allocation of 35 million manat ($20.5 million) to provide housing to servicemen, Minister of Finance Samir Sharafov said, Trend reports citing Azerbaijani Parliament (Milli Majlis).
He made the remark at the joint meeting of the Committee of Law Policy and State-Building, Defence, Security and Counter-Corruption Committee, Committee for Human Rights, Committee for International Relations and Inter-Parliamentary Connexions during discussions of the draft law "On the state budget of the Republic of Azerbaijan for 2023".
Sharifov noted that the state budget for 2023 reflects such strategic challenges as strengthening the defense capability of Azerbaijan, the development of Karabakh and Eastern Zangazur, and the "Great Return" to the liberated territories.
He said that strengthening the country's defense capability and ensuring the country's national security remains the main priority areas for spending the state budget. The state budget for 2023 provides 5.3 billion manat ($3.1 billion) for these purposes, which is 17.1 percent more than in 2021.
The draft law "On the state budget of the Republic of Azerbaijan for 2023" was submitted to the Azerbaijani Parliament (Milli Majlis) on October 24.
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.
Taking into account the volatility of oil prices in commodity markets, the price of a barrel of oil was taken equal to $50 in the preparation of the state budget for 2023 on the basis of a more cautious approach.
As in previous years, the state budget for 2023 is socially oriented. It's planned to allocate 15.2 billion manat ($8.8 billion) to the social sector from the state budget in 2023, which is 1.3 billion manat ($764.7 million) or 9.3 percent more than in 2022.
The limit of the need-based minimum wage will be increased by 23 percent compared to 2022 and amount to 246 manat ($144). Thus, in 2023, the limits of the subsistence minimum and need-based minimum wage will be equalized throughout the country.
The state budget for 2023 provides to spend 4.4 billion manat ($2.6 billion) on education, which is 536.5 million manat ($315.6 million) or 13.8 percent more than in 2022 and 1.3 billion manat ($760 million) or 42.4 percent more than in 2021.
To ensure the country's food security, increase budgetary resources, stimulate the agricultural sector, and develop the leading sectors of agriculture, the state budget for 2023 provides funds in the amount of 1.2 billion manat ($705.39 million). This figure is 20.5 percent more than in 2022 and 32 percent more than in 2021.
Considering the growth dynamics of global food and non-food prices, the draft budget forecasted the allocation of funds of 625.2 million manat ($367.5 million) for food security measures in Azerbaijan, up by 38.6 percent compared to 2022.