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Azerbaijan's budget expenses play key role in maintaining domestic demand - Central Bank

Finance Materials 25 August 2021 09:10 (UTC +04:00)

BAKU, Azerbaijan, Aug. 25

By Zeyni Jafarov - Trend:

Government spending in Azerbaijan played a significant role in maintaining domestic demand in the first half of 2021, Trend reports citing monetary policy review of the Central Bank of Azerbaijan (CBA).

As reported, the state budget expenditures for the first six months of 2021 amounted to 11.6 billion manat ($6.82 billion), down 1.2 percent on an annual basis.

“Some 44.1 percent of state budget expenditures, or 5.1 billion manat ($3 billion), were directed to finance socially-oriented expenditures (wage fund, scholarships and social benefits, expenses for medicines and food), which is 5.6 percent more than in the first half of 2020,” the CBA said.

“Investments in the Azerbaijani economy during the specified period amounted to 5.9 billion manat ($3.47 billion), has decreased by 7.6 percent over the year. In total, 34.6 percent of investments fell on the public sector, 65.4 percent - in the private sector,” the report said.

In the first half of the year, a surplus of 164.5 million manat ($96.7 million), or 0.4 percent of GDP, was recorded in the state budget of Azerbaijan.

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