The increase in the budget deficit will be provided mainly by domestic borrowing
The forecast of the deficit of the state budget of Azerbaijan for 2024 increases by 764.3 million manats, of which 600 million manats will be provided by funds raised from an internal loan, the draft law on amendments to the law ” On the state budget for 2024."
According to the document, 105.9 million manats of the increase will be provided from the free balance of the single treasury account, and 58.4 million manats from the balance of the funds of the target budget funds. The ratio of the deficit to the expected gross domestic product by the end of this year will be 2.8%.
Finance
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The Central Bank of Azerbaijan has released an insurance review on the results of January-May 2024.
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In the first quarter of 2024, a transaction worth $1.4 billion was carried out in the cash currency market of Azerbaijan.
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The Baku Stock Exchange (BSE) has completed the auction on placement of new interest-bearing, unsecured, paperless registered bonds of "Kapitalbank" with the code AZ2010005158 ISIN in the amount of $30 million and maturity of 7 years. This is reported by the BSE.
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The company "Center for Information Technologies and Information Management" under the Ministry of Economy conducts an open tender for voluntary medical insurance of its employees.
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