BAKU, Azerbaijan, May 27. The approved state budget expenditures of 39.7 billion manat ($23.3 billion) were executed by 94.9 percent or 37.7 billion manat ($22.1 billion) last year, which is 1.3 billion manat ($770 million) or 3.4 percent more than in 2023.
The data obtained by Trend from the draft law on the execution of the state budget of the Republic of Azerbaijan in 2024 shows that the share of state budget expenditures in GDP in the reporting year amounted to 29.9 percent, which is 0.3 percentage points more than in 2023.
Over the past 5 years, state budget expenditures in 2024 increased by 11.3 billion manat ($6.65 billion) or 42.8 percent compared to 2020.
According to its structure, 21.3 billion manat ($12.5 billion) or 56.6 percent of 2024 state budget expenditures are directed to current expenditures (by 1.07 million manat ($630,000) or 5.3 percent more than in 2023), 15.1 billion manat ($8.8 billion) or 40 percent to capital expenditures (by 67. 3 million manat ($39.6 million) or 0.4 percent more than in 2023), 1.3 billion manat ($770,000) or 3.4 percent - for expenditures related to servicing the state debt and obligations (by 113.1 million manat or 9.6 percent more than in 2023).
The share of current expenditures in the state budget expenditures increased by 1 percentage point compared to 2023, the share of expenditures related to servicing the state debt increased by 0.2 percentage points, and the share of capital expenditures decreased by 1.2 percentage points.
As much as 90.1 percent of the executed current expenditures of the 2024 state budget of 21.3 billion manat ($12.5 billion) (5.9 percentage points more than in 2023) or 19.2 billion manat ($11.3 billion) (2.1 billion manat ($1.2 billion) or 12.3 percent more than in 2023) were covered by revenues from the non-oil and gas sector.