BAKU, Azerbaijan, September 24. New salary increases and social payments in 2025 will affect more than 2 million citizens, Prime Minister of Azerbaijan Ali Asadov said, Trend reports.
He made the announcement during a speech in the Cabinet of Ministers at the discussion of the draft state budget and consolidated budget for 2025 and indicators of the consolidated budget for the next three years, the concept and forecast indicators of economic and social development for 2025 and the next three years.
He noted that the parameters of the macro-fiscal structure for 2025-2028 were developed based on medium-term “anchors” of the budget rule and maintaining the assets of the State Oil Fund at a stable level.
“The oil price was taken at the level of $70 in the calculations of next year's budget. State budget revenues are projected at 36.6 billion manat ($21.5 billion) in 2025 and expenditures at 39.6 billion manat ($23.2 billion). The ratio of state budget deficit to GDP is 2.4 percent. Based on macroeconomic forecasts, the real growth rate of gross domestic product is projected at 3.5 percent in 2025 and 4.9 percent in the non-oil sector. The GDP growth rate in the non-oil sector is projected at 5 percent in the medium term.
The development of a non-oil economy in the medium term against the background of weakening growth rates with decreasing production in the oil and gas sector is one of the main objectives. Due to the successful socio-economic policy pursued by the head of state, Azerbaijan's growing economic opportunities have made an important contribution to the social protection and welfare of the population.
Moreover, social protection and social security of the population will be one of the main directions of budget expenditures in 2025. Attention and care for martyr families and veterans will continue to be among the priorities of state policy. In general, social expenditures account for 43 percent of the state budget expenditures. To develop modern, innovative education and improve the population's access to quality medical services, the State budget for next year includes larger funds.
Of special importance are ensuring and protecting the inviolability of the country's borders, increasing the combat readiness of the Armed Forces, modernizing the material and technical equipment of the army, and creating the necessary financial support to improve the social security and conditions of service of military personnel. In next year's state budget, defense and national security expenditures account for about 17 percent of the total budget expenditures,” he said.
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