BAKU, Azerbaijan, May 27. Factors causing revision of the state budget of Azerbaijan for 2024 have been named, Finance Minister Samir Sharifov said during the discussion of amendments to the “On State Budget of the Republic of Azerbaijan for 2024” law at the meeting of the Milli Majlis' (Parliament) Committee on Economic Policy, Industry, and Enterprising, Trend reports.
The minister emphasized several factors prompting the revision of the state budget. These include the need to create additional financial support for the implementation of measures outlined in the State Program of Great Return.
Additionally, Sharifov said that there is a focus on strengthening the defense capacity and national security of the state, even after the full restoration of territorial integrity and sovereignty. Moreover, there is a requirement for additional funding to continue modernizing ammunition and providing technical support to the army.
To note, the forecast of revenues in the revised state budget of Azerbaijan for 2024 has been increased from 34.17 billion manat, or $20.1 billion, to 36.35 billion manat, or $21.38 billion, and the forecast of expenditures has been increased from 36.76 billion manat, or $21.6 billion, to 39.7 billion manat, or $23.35 billion.
Azerbaijan's state budget revenues in the first quarter of this year exceeded the forecast by 8.07 percent, or 659.5 million manat, or $387.94 million.
The country's state budget revenues exceeded 9.23 billion manat, or $5.4 billion, which is 11.4 percent more than the indicator for the same period last year.
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