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Wednesday July 24 2024

Azerbaijan earmarks fund for reconstruction in Garabagh and Eastern Zangazur

25 June 2024 15:16 (UTC+04:00)
Azerbaijan earmarks fund for reconstruction in Garabagh and Eastern Zangazur
Nazrin Abdul
Nazrin Abdul
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During today's plenary meeting of the special session of the Milli Majlis, the draft amendment to the "2024 State Budget" law was thoroughly discussed in its third reading, Azernews reports.

The document was presented by Tahir Mirkishili, the head of the parliamentary Economic Policy, Industries, and Enterprising Committee, with the participation of Minister of Finance Samir Sharifov.

The amendments propose new expenditures totaling 3.796 billion manats. Among these allocations, 1.160 billion manats are earmarked for priority sectors, including construction, restoration, and reconstruction efforts in Garabagh and Eastern Zangazur following their liberation.

Additionally, 807 million manats are allocated to enhance national defense capabilities and security, while 1.184 billion manats are set aside for infrastructure support and other essential projects.

Further allocations include 499 million manats for international activities and miscellaneous expenses and 146 million manats for necessary capital expenditures and repairs.

As a result of these revisions, the projected expenditures for the 2024 state budget are estimated at 39.707 billion manats, with revenues forecasted at 36.353 billion manats.

This adjustment results in a budget deficit increase of 764 million manats, totaling 3.354 billion manats for 2024.

Following comprehensive deliberations, the draft amendment was voted on and unanimously accepted.

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