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Azerbaijan allocates funds for defense and national security

24 May 2023 16:27 (UTC+04:00)
Azerbaijan allocates funds for defense and national security

Azerbaijan spent 17.5 percent or over 5.62 billion manats ($3.3 billion) of the state budget on defense and national security in 2022.

According to the draft law "On the execution of the state budget of the Republic of Azerbaijan for 2022", Azerbaijan spent 457.1 million manats (nearly $269 million) to finance special defense projects from the reserve fund of the President of the Republic of Azerbaijan in 2022, Azernews reports.

Compared to 2021, the figures were 737 million manats ($433.5 million) or 15.1 percent less.

The draft notes that in 2022, 517.9 million manats ($304.7 million) were used from the reserve fund of the President of the Republic of Azerbaijan, of which 486.7 million manats ($286.3 million) or 94 percent were allocated to finance capital expenditures, and 31.2 million manats ($18.3 million) or 6 percent were allocated for current expenses.

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