In 2022, the execution of the state budget expenditures amounted to AZN32bn ($18.8bn) which is 99.3 percent more than the forecast, Azernews reports, referring to the Finance Ministry.

The ministry added that this amount of expenditures in 2022 was AZN4.6bn ($2.7bn) or 16.9 percent more compared to 2021.

“In 2022, AZN17.7bn [$10.4bn] of the state budget expenditures was directed into the current expenditures (AZN1.1bn [$0.65bn] or 6.9 percent more compared to 2021), AZN12.5bn [$7.35bn] to capital expenditures (AZN3.9bn [$2.29bn] or 45.1 percent more compared to 2021),” the ministry stated.

Meanwhile, Azerbaijan directed AZN1.8bn ($1.06) to public debt and liabilities, which is AZN408m ($240m) or 18.6% less compared to 2021.

Social expenditures (salary fund, pensions, social benefits, medicine, and food expenditures in accordance with the economic classification) were executed in the amount of AZN11.6bn ($6.82bn), which is AZN1.3bn ($0.76bn) or 12.4 percent more compared to 2021.