BAKU, Azerbaijan, Nov. 25
By Zeyni Jafarov - Trend:
The public expenditures of Azerbaijan played an important role in supporting domestic demand during the third quarter of this year, Trend reports referring to the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
At the same time, the state budget expenditures of Azerbaijan at the end of the third quarter amounted to 18.6 billion manat ($10.9 billion), which is 11.7 percent more compared to the same period of 2019.
According to the economic classification, 38.5 percent or more than 7 billion manat ($4.1 billion) of state budget expenditures were directed to financing socially-oriented expenditures (wages fund, scholarships, and social benefits, spending on medicines and food), increasing by 21.8 percent or $1.3 billion over the year.
“Investments in the Azerbaijani economy by the end of the third quarter of 2020 amounted to 10.4 billion manat ($6.1 billion), has decreased by 3.8 percent over the year. A total of 38.8 percent of investments fell on in the public sector and the remaining 61.2 percent in the private sector,” said the report.
In the third quarter of this year, the state budget revenues for the third quarter of 2020 amounted to 5.9 billion manat ($3.49 billion), and a deficit of 677.6 million manat ($398.5 million) was formed in the budget.
(1 USD = 1.7 manat on Nov. 25)
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