The revenue of the state budget of Azerbaijan increased by 16.2 percent, amounting to AZN30.7bn ($18bn) in 2022, Azernews reports per the State Statistics Committee.

Meanwhile, the expenditures of the state budget increased by 16.7 percent, totaling AZN32bn ($18.8bn) in 2022. Some AZN1.3bn ($764m) deficit was created in the implementation of the budget.

The bill “'On the state budget of the Republic of Azerbaijan for 2023” submitted to the parliament on October 24, 2022, predicts the state budget revenue for 2023 in the amount of AZN30.7bn ($18.04bn). The amount is 5.2 percent more compared to 2022.