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Economic growth, social welfare - main priorities of Azerbaijan's state budget

Economy Materials 28 July 2021 16:01 (UTC +04:00)
Economic growth, social welfare - main priorities of Azerbaijan's state budget

BAKU, Azerbaijan, July 28

By Sadraddin Aghjayev - Trend:

The main priorities of the state budget of Azerbaijan are the restoration of the territories liberated from Armenian occupation, Executive Director of the Center for Analysis of Economic Reforms and Communications of Azerbaijan, Doctor of Economics, Professor Vusal Gasimli told Trend.

Gasimli noted that other priorities the country’s state budget are the development of army, growth of the economy and social welfare of the population, including meeting the needs of the families of martyrs and participants in the war.

According to Gasimli, social expenditures of the state budget of Azerbaijan in the first half of 2021 amounted to 44.1 percent of actual expenditures and exceeded 5.11 billion manat ($3 million).

"Current expenses exceeded last year's figure by 2.6 percent, or 127.3 million manat ($74.8 million),” he said.

“It also includes salaries, stipends and social benefits, medicine and food costs according to economic classification. Social payments in Azerbaijan have increased by more than 60 percent over the past three years,” Gasimli said.

“During this period, the minimum pension in Azerbaijan increased by 82 percent, the average pension - by 60 percent, the average benefit - by 100 percent, the amount of targeted social assistance - by 72 percent. With a living wage of 196 manat ($115), the average pension is 360 manat ($211), and the minimum wage is 250 manat ($147)," Gasimli said.

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