In January 2016 the state budget revenues amounted to 1 billion 349.6 million manats. The Ministry of Finance spent 516.4 million mantas of that.
Thus, a surplus was formed in the amount of 833.2 million manats, or 20.8% of GDP, according to State Statistics Committee.
Since the beginning of the year to finance public investment projects a single manat has not been spent, while in January 2015, investments from the budget were 807.8 million manats.
For social needs the state budget was allocated 203.9 million AZN, which was 1.2 million manats more than a year before. Education expenditures (27.4 million manats) decreased by 13.8%.
Running the judiciary, law enforcement agencies and the prosecutor's office amounted to 42.2 million manat in January, which is 38.4% more compared to January 2015. ----08D
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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