Baku, Azerbaijan, May 25
By Zeyni Jafarov - Trend:
The state spending played an important role in supporting the domestic demand in Azerbaijan in the first quarter of 2021, Trend reports on May 25 referring to the review of the monetary policy of the Central Bank of Azerbaijan (CBA).
According to the review, Azerbaijan's state budget expenditures over the reporting period amounted to 5.5 billion manat ($3.2 billion, rise of 5.1 percent on annual basis).
Over 2.65 billion manat ($1.56 billion) or 48 percent were directed to the financing of the socially oriented expenditures (wages fund, scholarships and social benefits, spending on medicines and food). This figure shows an increase of 131.8 million manat ($77.5 million or a growth of 5.2 percent compared to 1Q2020).
The investments in the Azerbaijani economy from January through March 2021 amounted to 2.4 billion manat ($1.4 billion), which has decreased by 19.4 percent for the year. A total of 26 percent of the investments accounted for the public sector while 74 percent - the private sector.
As of 1Q2021, a surplus of 212.7 million manat ($125.1 million) was formed in the state budget of Azerbaijan.
(1 USD = 1.7 AZN on May 25)