Country to boost defence expenditures in 2021
By Akbar Mammadov
Azerbaijan’s defence and security budget will amount to $2.33 billion (AZN 3.95 billion) in 2021, compared to $2.27 billion (AZN 3.85 billion) in 2020.
According to amendments to the law on 2020 state budget, the overall expenditures of the state budget in 2021 are forecasted to amount to $15.2 billion (AZN 25.8 billion). This means that next year, the share of defence and security expenditures will amount to 15.3 per cent of the overall budget expenditures by sections of the functional classification.
According to the draft law, ensuring the defence capability and security of the country, the creation of financial support for special defence projects and activities will be continued in 2021.
The country has been expanding its military expenses in recent years amid Armenia's military aggression and the failure of peace negotiations over Azerbaijan's occupied Nagorno-Karabakh region.
The defense expenditures envisaged in the 2019 state budget was increased from $1.79 billion (AZN 3.04 billion) to $1.87 billion (AZN 3.2 billion).
It should be noted that Azerbaijan ranked 64th among 138 countries in 2020, according to "PowerIndex" of "Global Fire Power" for the potential military strength report, which takes into account 50 individual factors.
Akbar Mammadov is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97
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