![The increase in the budget deficit will be provided mainly by domestic borrowing](https://turan.az/resized/news/2024/69PWStXImWfAHcDo89xHkQyWfBr0YIOwnlMG88dy-750-500-resize.webp)
The increase in the budget deficit will be provided mainly by domestic borrowing
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 Accounting Chamber has revealed shortcomings in the Baku State University and the Azerbaijan State Academy of Physical Culture and Sport.
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In 2023, the salary costs of employees of the State Oil Fund of Azerbaijan (SOFAZ) amounted to 9.8 million manats. This is stated in the financial statements of the Fund, which were audited at the end of the last year.
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Azerbaijan's justified state budget expenditures totalled AZN 4,948 million in the first half of 2024.
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As of the end of June 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.1 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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