Azerbaijan to increase spending on defense sphere in 2016

  15 September 2015    Read: 955
Azerbaijan to increase spending on defense sphere in 2016
Azerbaijan plans to allocate around 1.838 billion Azerbaijani manats to the defense sphere in 2016, said the draft state and consolidated budgets of Azerbaijan for 2016 made public by the Finance Ministry.
The planned volume of expenditures on the defense sphere for 2016 will increase by 59.3 million manats (3.3 percent) compared to the 2015 budget forecast and by 77.8 million manats (4.4 percent) compared to the budget implementation forecast for 2015.

In total, the planned volume of expenditures on defense and security, as well as for maintenance of the judiciary, law enforcement agencies and prosecutor’s office in 2016 will account of 18.3 percent of the total volume of budget expenditures.

The revenues of Azerbaijan’s state budget are expected to reach 14.566 billion manats, while the expenditures will be 16.264 billion manats in 2016.

The budget deficit for 2016 is forecasted at 1.698 billion manats, or 2.9 percent of GDP.

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