Web Desk November 23, 2021

Nearly 14 billion manat ($8.2 billion) is planned to be allocated for social spending from Azerbaijan’s state budget for 2022, MP Vugar Bayramov said at a plenary meeting of the parliament on Nov. 23, Trend reports.

According to Bayramov, one of the important points in the budget for next year is the increase of social spending share in GDP.

He noted that in the state budget for 2022 this figure will exceed 16 percent of GDP.

“This is even higher compared to the member countries of the Organization for Economic Cooperation and Development (OECD). For example, in the Netherlands, the share of social spending in GDP is 16 percent, in Ireland – 13.4, Korea – 12.6, Chile – 12.2, Turkey – 12, and Mexico – 7.5 percent. For the OECD countries the average is 20 percent, and Azerbaijan is close to that average,” the MP said, adding that next year, per capita spending in Azerbaijan will amount to $1,757 at the current exchange rate.

“According to this indicator, Azerbaijan will outstrip most of the CIS countries. Next year, it’s planned to allocate 2.2 billion manat ($1.3 billion) for the restoration of the territories liberated from Armenian occupation [in the 2020 second Karabakh war]. This means that in 2021-2022, 4.4 billion manat ($2.6 billion) are planned to be allocated for the restoration of Karabakh and East Zangazur,” Bayramov said.

 

Source: Trend News Agency

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