Azerbaijani state budget revenue to amount to $18bn in 2023

By Azernews

By Ayya Lmahamad

The revenue of the state budget is forecasted at AZN30.7 billion ($18bn) in 2023, which is 5.2 percent more than in 2022 and 16.4 percent more than in 2021, Azernews reports.

Meanwhile, the state budget expenditures for the next year are forecasted at AZN33.3 billion ($19.5bn), which is AZN1 billion ($588.2m) more than in 2022 and by AZN5.9 billion ($3.4bn) more than in 2021.

Funds for social protection

Azerbaijan's state budget expenditures on social protection are forecasted at AZN15.2 billion ($8.9bn), which is by 9.3 percent or AZ1.3 billion ($760m) more than this year's indicator.

As in previous years, the state budget for 2023 will be socially oriented.

Healthcare spendings

The state budget expenses for the healthcare sector are forecasted at AZN1.9 billion ($1.1bn) in 2023.

Out of these, AZN1.8 million ($1m) is envisaged for polyclinics and outpatient clinics and AZN171 million ($100.5m) for hospitals.

Education expenses

According to the draft law on the state budget for 2023, it is envisaged to spend AZN4.4 billion ($2.6bn) on education, which is 13.8 percent more than in 2022 and 42.4 percent more than in 2021.

The main areas of spending on education for the next year include an increase in the number of students receiving higher education under the state order, scholarship quotas, as well as meeting the growing demand for the introduction of information and communication technologies at schools and universities.

Food security

It's forecasted to allocate AZN625.2 million ($367.7m) for food security measures in Azerbaijan, which is by 38.6 percent more than in 2022.

Moreover, it is envisaged to allocate funds in the amount of AZN1.2 billion ($710m) from the state budget to increase budgetary resources, stimulate the agricultural sector, and develop the leading branches of agriculture.