TODAY.AZ / Business

Azerbaijan to significantly increase expenditures for science in 2020

19 October 2019 [15:18] - TODAY.AZ

By  Trend

In 2020, 193.7 million manat ($113 million) will be allocated from Azerbaijan's state budget for scientific research expenditures, Trend reports referring to the project report of the country's Ministry of Finance.

According to the project, the mentioned amount is 57.4 million manat ($33.7 million) or 42.1 percent higher than the amount allocated in 2019.

Some 12.3 million manat ($7.2 million) have been earmarked for the implementation of scientific programs. These funds are to be allotted to financing management of organizations, carrying out basic research in science, implemented by state or private research organizations.

In 2020 the state budget will provide 4.2 million manat ($2.4 million) for the Science Development Fund under the President of Azerbaijan and 10 million manat ($5.8 million) to strengthen the material and technical base of scientific institutions.

Extra budgetary expenditure of organizations, financed by support division for scientific expenditure of the state budget in 2020, will amount to 4.2 million manat ($2.5 million), which is 0.3 million manat ($176,470) or 7.5 percent higher than the same amount of 2019.

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