BAKU, Azerbaijan, Feb.11
By Zeyni Jafarov – Trend:
Over 16.3 billion manat ($9.6 billion) or 62 percent of expenditures from the state budget of Azerbaijan in 2020 accounted for current costs, which is the growth of 2.8 billion manat ($1.6 billion) or 21 percent year on year, Trend reports on Feb.11 referring to the reporting data of the Ministry of Finance.
According to the data, the rise in current expenses was mainly due to the increase in the salaries of employees of organizations receiving funding and financial assistance from the state budget.
Slightly more than 2 billion manat ($1.18 billion) was allocated to cover the growth in pensions and social payments in the country, 609 million manat ($358.2 million) to implement measures on reducing the negative impact on the economy caused by the COVID-19 pandemic, and 186.2 million manat ($109.5 million) to finance higher education activities.
In 2020, over 8.3 billion manat ($4.8 billion), or 31.5 percent, was allocated for main expenses from the state budget, which is 11.2 percent less than in 2019. Some 1.73 billion manat ($1.02 billion), or 6.5 percent, fell on costs related to public debt and liabilities (growth of 13.2 percent over the year).
The expenditures of the state budget of Azerbaijan for the reporting year exceeded 29.1 billion manat ($17.1 billion), which is 2.65 billion manat ($1.5 billion) or 10 percent more than a year before.
(1 USD = 1.7 AZN on Feb.11)
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