Baku: Azerbaijan has allocated 58 billion manats for defense spending in the last 20 years, stated Deputy Minister of Finance Azer Bayramov. This announcement was made at the scientific-practical conference on “Economic foundations of state sovereignty and economic independence” dedicated to the “Year of Constitution and Sovereignty,” organized by the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.

According to Azeri-Press News Agency, Deputy Minister Bayramov highlighted that the funds allocated from the state budget for defense spending have increased 29 times, reaching 8.4 billion manats. He emphasized that between 2005 and 2025, 58 billion manats were allocated from the state budget for defense spending alone. These expenditures have fortified the power of the Azerbaijani Army and significantly contributed to the country’s notable victory in 2020 under the leadership of the Supreme Commander-in-Chief.