Azerbaijani parliament adopts state budget for 2023

The Azerbaijani parliament adopted the draft state budget for 2023 in the third and final reading at a plenary session on December 9.

The state budget revenues for 2023 are projected at 30,773.978 billion manats ($18,102.34 billion), expenditures – 33,353.278 billion manats ($19,619.5 billion), according to Interfax-Azerbaijan.  

Thus, the deficit is projected at 2,579.3 billion manats ($1,517.2 billion) or 2.4 per cent of GDP.

The transfers from the State Oil Fund of the Azerbaijan Republic to the state budget for the next year are projected at 11.280 billion manats ($6.635 billion) in the structure of income.

Azerbaijan's GDP growth for 2023 is projected at 2.7 per cent, with average annual inflation - at 6.9 per cent.

The forecast for state budget revenues for 2022 is 29,197.8 billion manats ($17,175.1 billion), expenditures – 32,303.8 billion manats ($19,002.2 billion).

The state budget deficit for 2022 is projected at 3.106 billion manats ($1.827 billion) or 2.7 per cent of GDP.