Azerbaijan unveils planned state budget allocations for social spending for 2022
23 November 2021 18:51 (UTC + 04:00)
Almost 14 billion manat ($ 8.2 billion) is expected to be allocated to social spending from the Azerbaijani state budget for 2022, MP Vugar Bayramov said at a parliament plenary meeting on November 23, Trend reports .
According to Bayramov, one of the important points of next year’s budget is the increase in the share of social spending in GDP.
He noted that in the state budget for 2022, this figure will exceed 16% of GDP.
“This is even higher compared to member countries of the Organization for Economic Co-operation and Development (OECD). For example, in the Netherlands the share of social spending in GDP is 16%, in Ireland – 13.4, Korea – 12.6, Chile – 12.2, Turkey – 12 and Mexico – 7.5%. For OECD countries, the average is 20%, and Azerbaijan is close of this average, ”said the MP, adding that next year the per capita expenditure in Azerbaijan would amount to $ 1,757 at the current exchange rate.
According to this indicator, Azerbaijan will overtake most of the CIS countries. Next year, it is planned to allocate 2.2 billion manat ($ 1.3 billion) for the restoration of the liberated territories of the CIS. Armenian occupation [in the 2020 second Karabakh war]. This means that in 2021-2022, 4.4 billion manat ($ 2.6 billion) should be allocated for the restoration of Karabakh and Eastern Zangazur, ”Bayramov said.
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