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 analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
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President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
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