The Minister of Finance Samir Sharifov reported about Azerbaijan's state budget revenues and expenditures in the past year. According to him, "people money box" missed 2.3 billion manats (11.6%), due to the reduction in transfers to the State Oil Fund (SOFAZ) as a result of the sharp decline in oil prices on world markets, and therefore it was decided to save foreign exchange reserves fund.
According to him, revenues from non-oil sector amounted to 6.95 billion manat (3% or 200 million AZN) to the forecast. The tax revenue share of this segment of the economy amounted to 40.5%.
"Keeping the priority of social expenses for this purpose was sent 32.1% of budget expenditures or 5.752 billion manats," said Sharifov.
Last year, spending on education amounted to 1.605 billion manats, health care - 708 million manat, social protection and support - 1 billion 857 million manats. On increasing the defense capability and security of the country, ensuring the social protection of servicemen in 2015 was sent to 17.9% of budget expenditure, on the budget of the Nakhchivan Autonomy – 331.000.000 manat, including 33 million manat for investment projects; for the state capital investments were allocated 3 billion 659 million manats. To finance major infrastructure projects through loans raised by the government were sent to 1.7 billion manat, SOFAZ funds - 994 million manats. The state budget revenues for 2015 were approved at the level of 19 billion 438 million manat, expenses - 21.1 billion manat with a deficit of 1 billion 662 million manat (2.8% of GDP). - 17D-
Economics
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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The architectural company El & En has received several contracts worth a total of AZN 805,593 from the Committee for Urban Planning and Architecture. Additionally, the Territorial Construction Planning Center commissioned projects from the private company El & En worth several hundred thousand manats. These architectural projects involve work in liberated territories and other regions of Azerbaijan. The co-owner of this company, along with his son, is Elbay Gasimzade, the head of the Public Council under the State Committee for Urban Planning and Architecture and simultaneously the Chairman of the Union of Architects.
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The State Oil Company of Azerbaijan (SOCAR) will begin issuing "green" bonds on January 15, with a total issuance volume of USD 200 million, according to an official SOCAR statement cited by Turan.
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