Baku: Azerbaijan is set to allocate 450 million manats next year for the reconstruction of the Heydar Aliyev Oil Refinery.

According to Azeri-Press News Agency, this substantial investment is part of a broader fiscal plan aimed at bolstering various sectors within the country.

In addition to the refinery project, 100 million manats are earmarked for Azerbaijan’s share in the charter capital of international investment and development funds co-founded by the Republic of Azerbaijan. The government also plans to allocate 250 million manats to the ‘Automobile Roads’ Targeted Budget Fund, and 85 million manats to increase the charter capital of the Mortgage and Credit Guarantee Fund of the Republic of Azerbaijan. Furthermore, 373 million manats will be distributed for other projects, underscoring the country’s commitment to sustaining economic growth and infrastructure development.