Milli Majlis approves State Budget for 2024

12:32 - 5.12.2023


December 5, Fineko/abc.az. Milli Majlis has endorsed the State Budget of the Republic of Azerbaijan for 2024.

ABC.AZ reports that the Draft Law on the State Budget of the Republic of Azerbaijan for 2024 was submitted for discussion and adopted in the 3rd reading.

State Budget revenues for 2024 are projected at AZN 34.173 billion and expenditures – AZN 36.763 billion. State Budget deficit for 2024 was approved at the level of AZN 2.59 billion or 2.2% of GDP

State Budget revenues for the next year are calculated from the average oil price of $60 a barrel.

In the structure of State Budget revenues in 2024, transfers from the State Oil Fund for 2024 are planned at the level of AZN 12.78 billion (8.9% more versus the forecast for 2023).

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