Finance minister: Defense and national security spending will increase by 6% next year

Azerbaijan plans to allocate 17.5% of the state budget expenditures or 6.42 billion manats ($3.77 billion) to the defense and national security expenditures, which are among the priority areas of the state budget expenditures for the next year, Minister of Finance Samir Sharifov said during the discussion of the forecasts of the 2024 state budget at today's meeting of the Milli Majlis Committee for Economic Policy, Industry and Entrepreneurship, Report informs.

“This is 366 million manats ($215.1 million) or 6% more than in 2023. These funds will create financial support for further increasing the power of our army, ensuring the inviolability of the country's borders, increasing the combat readiness and professionalism of the armed forces, and further improving the social security and service conditions of the servicemen,” he said.