Azerbaijan allocates funds for restoration of liberated lands

Azerbaijan has allocated about six billion manats ($3.5 billion) for the restoration of liberated lands.

Some 5.588 billion manats ($3.3 billion) was allocated from the 2023 state budget for the restoration of the Azerbaijani territories liberated from occupation, the Azerbaijani Finance Ministry told APA.

Meanwhile, the consolidated budget revenues for 2023 amounted to 50,343.6 billion manats ($29,613.8 billion), which is 7,283.5 billion manats ($4,284.4 billion) or 16.9 per cent more than the forecast, and 7,246.0 billion manats ($4,262.3 billion) or 16.8 per cent more than in 2022.

There is a surplus worth 10,029.8 billion manats ($5,899.8 billion) in the consolidated budget, which is by 5.6 times more than it was predicted.

As of December 31, 2023, external public debt amounts to $6,480.7 billion (11,017.2 billion manats), or nine per cent of gross domestic product (GDP).

The amount of external public debt compared to the amount as of January 1, 2023 in absolute terms decreased by $212.5 million (361.2 million manats), or by 3.2 per cent.

According to the information, Azerbaijan's state budget revenues for 2023 worth 33,890.5 billion manats ($19,935.5 billion) exceeded the forecast by five per cent, or 1,684.3 billion manats ($990 million), and reached 35,574.8 billion manats ($20,926.3 billion). This is by 4,895.2 billion manats ($2,879.5 billion), or 16 per cent more compared to 2022.

The state budget expenditures were fulfilled by 99.5 per cent, or 36,458.5 billion manats ($21,446.1 billion) in 2023 compared to the forecast, which is by 4,393.9 billion manats ($2,584.6 billion) or 13.7 per cent more compared to 2022.