Minister: This year's state budget will be revised, total weight of expenses will be increased to 34 % of GDP

Minister: This year
# 23 May 2024 15:51 (UTC +04:00)

"The President of the Republic of Azerbaijan submitted a draft law on revising the 2024 state budget to the Milli Majlis (Azerbaijani Parliament). In that draft law, the special weight of our state budget expenses in GDP is forecasted to reach 34%. This is quite a significant case. However, I must reiterate, that we are heading towards a significant increase in expenditure", Minister of Finance of the Republic of Azerbaijan Samir Sharifov said at today's meeting of the Economic Policy, Industries, and Enterprising Committee of the Milli Majlis (Parliament), during the discussion of the draft law "On the implementation of the 2023 state budget of the Republic of Azerbaijan", APA-Economics reports.

"We need to ensure that the increase in expenditures does not undermine macroeconomic stability. This is one of the key points. Because a sharp increase in expenditures can lead to noticeable drawbacks", the Minister stated.