The Ministry of Finance predicts next year's reduction in the revenue and expenditure part of local budgets. Revenues will decrease by 8.2% to 766.3 million manats and expenses (minus 6.8%) - to 1 billion 541.3 million manats.
It is expected that government subsidies will also be suspended for the resort of Naftalan, which in this category will join the cities of Sumgait, Mingachevir and Shirvan, as well as the regions of Absheron and Imishli.
Most of the expenditure (60.8%, or 936.8 million AZN) will be directed to education, 13.9% or 213 700 000 manats - to health, and 11.8% or 181 400 000 manats - to housing and utilities. Administrations of the local executive authorities will be provided 7.6% or 116.7 million manats. --17D-
Economics
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Croatian Prime Minister Andrej Plenković announced enhanced efforts by Croatia to protect the Adriatic Sea and advance renewable energy projects during his address at the COP29 summit in Baku on Wednesday.
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Italian Prime Minister Giorgia Meloni on Wednesday called for collective action to limit global warming to 1.5 degrees Celsius during her address at the COP29 summit in Baku, emphasizing the need for a united response to the climate crisis.
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Greek Prime Minister Kyriakos Mitsotakis on Wednesday urged European leaders to pursue a "smart green deal" at the COP29 summit in Baku, advocating for a balanced approach to the energy transition that takes into account both environmental and economic realities.
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Kuwait’s Crown Prince Sheikh Sabah Khaled Al Hamad Al Sabah affirmed the country’s commitment to environmental sustainability during a high-level meeting at the COP29 summit in Baku on Wednesday, emphasizing Kuwait’s adherence to international climate agreements, including the Kyoto Protocol and the Paris Agreement.
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