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Azerbaijan outlines directions additional budget funds to be spent on in 2022

Economy Materials 20 June 2022 14:15 (UTC +04:00)
Azerbaijan outlines directions additional budget funds to be spent on in 2022
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, June 20. The directions, for which 2.986 billion manat ($1.76 billion), to be formed following amendments to the Azerbaijani state budget for 2022, will be spent, have been revealed by Finance Minister Samir Sharifov, Trend reports.

Sharifov made the remark at a meeting of the Azerbaijani Parliament’s Committee on Economic Policy, Industry and Entrepreneurship during a discussion of amendments to the law "On the state budget of Azerbaijan for 2022".

According to Sharifov, 1.447 billion manat ($850 million) is planned to be allocated to finance projects to create road infrastructure in the territories liberated from Armenian occupation, as well as projects to improve transport and communication infrastructure in other regions of the country.

He said that it’s planned to allocate 34 million manat ($20 million) to finance the restoration and reconstruction of housing and non-housing facilities affected by the second Karabakh war in a number of districts and cities, and other settlements.

Besides, according to the minister, 588 million manat ($345.88 million) is planned to be allocated to further increase the defense capability and military power and to finance measures in the field of national security, and 519 million manat ($305.29 million) - to finance obligations in the field of social protection, including the payment of wages and social benefits, and financial assistance for labor pensions.

It’s also planned to allocate 193 million manat ($113.53 million) to ensure food security measures, 163 million manat ($95.88 million) - to support measures related to the development of entrepreneurship, and 42 million manat ($24.71 million) - to provide a number of necessary utility and communication costs, Sharifov said.

According to the forecasts, after the revision, the state budget expenditures for 2022 will amount to 32.304 billion manat ($19 billion), which is 2.425 billion manat ($1.43 billion), or 8.1 percent more than the approved budget.

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