“Azerbaijan's strategic currency reserves exceed the external public debt by 14 times,” said Azer Amiraslanov, Chairman of the Parliament's Committee for Economic Policy, Industries and Enterprising during the discussion of the draft law "On the State Budget of the Republic of Azerbaijan for 2025" at the plenary session of the Milli Majlis today, APA reports.
The chairman of the committee said that in the 2025 state budget, oil price was noted $70: "At one time, the budget price of oil was between $25-30. Amid the backdrop of new challenges, it is possible to neutralize potential risks at the expense of resources that we do not use. Currently, the State Oil Fund's reserves amount to $61.3 billion, which shows that our country has strong financial foundations. The Fund continues to fulfill its main mission."
Azer Amiraslanov noted that in the draft budget, 17.8 percent more funds are projected for defense and national security financing than the current year: "Azerbaijan fulfills the mission of maintaining peace and stability in the region. The increase in these expenses worries some outside our borders. Let me make some points regarding their unfounded opinions. Increasing defense spending does not mean implementing a militaristic policy. Increasing military spending occurs against the background of increased spending in other areas. The highest share in our country's budget expenditures does not belong to defense spending at all. Trends in the militarization of the budget are characteristic of a well-known country. In Armenia, where the unemployment rate has reached 12 percent and has been experiencing an acute demographic crisis for more than 15 years, a sharp increase in military spending by 70 percent in just 1 year is a clear example of a militaristic budget."
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