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Azerbaijan allocates additional funds for restoration of liberated lands

20 June 2022 14:00 (UTC+04:00)
Azerbaijan allocates additional funds for restoration of liberated lands

By Ayya Lmahamad

The value of funds allocated for the restoration and reconstruction of Azerbaijan's liberated territories for 2022 is being increased.

The issue is reflected in the amendment to the law "On the state budget of Azerbaijan for 2022", Azernews reports, citing Trend.

According to the amendment, an additional AZN470 million ($276.4m) is proposed for the reconstruction of liberated territories this year. It should be noted that before the law on the state budget provided for the allocation of AZN2.2 billion ($1.3bn) for this purpose.

To recall, in 2021, Azerbaijan allocated $1.5 billion for the reconstruction of liberated territories. These funds will be used primarily to restore infrastructure (electricity, gas, water, communications, roads, education, health, and so on) as well as cultural and historical monuments.

Defense, national security expenditures

Moreover, according to the amendment, the expenditures on defense and national security are increasing as well. Thus, this figure will increase from AZN4.4. billion ($2.6bn) to AZN5 billion ($2.9bn).

Of these, AZN2.1 billion ($1.2bn) will be allocated for the defense forces, AZN 295 million ($173.5m) for national security, AZN433 million ($254.8m) for the border service, and AZN4.6 million ($2.7m) for applied researches in the field of defense and national security.

State budget revenue, expenditures

Furthermore, the revenue and expenditures of the state budget for 2022 will increase by more than 8 percent. The revenues of the country's state budget are approved in the amount of AZN 29.1 billion ($17.1bn) and expenditures of AZN 32.3 billion ($19bn).

State Social Protection Fund revenue, expenditures

Additionally, according to the amendments to the law on the state budget, revenues and expenditures of the State Social Protection Fund under the Labour and Social Security Ministry are increased.

Thus, the revenue and expenditures of the fund's budget will amount to AZN5.6 billion ($3.2bn), which is AZN 299.5 million ($176.1m) or 5.6 percent more than the approved figure.


Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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