Economics - 1999 June 18 (Friday)

Azerbaijan's defense and national security expenditures are set to increase significantly next year, driven by the need to enhance military capabilities and respond to Armenia's escalating militarization efforts, Finance Minister Samir Sharifov said on Monday.

Azerbaijan's state budget expenditure for 2025 has been proposed at AZN 41.368 billion, Finance Minister Samir Sharifov announced during a session of the Parliamentary Committee on Economic Policy, Industry, and Entrepreneurship on Saturday.

The Asian Infrastructure Investment Bank (AIIB) has announced the size of its first allocated loan for renewable energy projects in Azerbaijan.

In Azerbaijan, debates are ongoing about the feasibility of hosting the UN Climate Conference COP29 in Baku. Azerbaijani critics argue that the event could place a heavy burden on the country's budget, with rumors circulating that the recent increase in fines for traffic violations and a surge in such penalties aim to fill the budget gap left by COP29 expenses.