State budget expenses for 2024 exceed forecast

In the first nine months of the current year, the state budget expenses amounted to 25 billion 174.3 million manats, which is 42.2 million manats (0.2 percent) more than the approved forecast, Azernews reports citing the Ministry of Finance of Azerbaijan.

The expenses incurred during the reporting period account for 63.3 percent of the total state budget expenses for 2024.

From January to September of this year, 15 billion 459.7 million manats, or 61.4 percent of the state budget expenses, were allocated to current expenses (13 billion 41.3 million manats, or 9.5 percent more than in the same period of 2023). Additionally, 8 billion 419.1 million manats, or 33.4 percent, were allocated for capital expenditures (36.7 million manats, or 0.4 percent more than in the same period of 2023), and 1 billion 295.5 million manats, or 5.2 percent, were directed to expenses related to public debt service (581.8 million manats, or 1.8 times more than in the same period of 2023).

Furthermore, during the months of January to September of the current year, 170.3 million manats were allocated to the internal state debt (interest debt), and 1 billion 125.2 million manats were allocated to the external state debt (850 million manats for the principal debt and 275.2 million manats for interest). In total, 1 billion 295.5 million manats were paid.