Azerbaijan increasing defense, security expenditures

The amount of funds allocated for defense expenditures in Azerbaijan's state budget for 2018 has been increased from 2.739 billion manats to 2.905 billion manats, a source in the Azerbaijani government told Trend.

The funds provided for the defense forces have been increased from 1.366 billion manats to 1.384 billion manats, for national security - from 111.658 million manats to 130.358 million manats.

The volume of funds allocated for defense and security research has remained unchanged at 2.663 million manats, and the volume of funds that will be spent on expenses not related to other categories have been increased from 1.258 billion manats to 1.388 billion manats.

Amendments to the "Law on the State Budget for 2018" will be considered at extraordinary meetings of Azerbaijani Parliament scheduled for June 28 and 29.

The budget forecasts will be adjusted considering the oil price at $55 per barrel. The base price for oil set in the state budget for this year is $45.

Revenue part of the 2018 state budget is forecast to total 20.127 billion Azerbaijani manats (including centralized revenues in the amount of over 19.473 billion manats, local revenues in the amount of 653.350 million manats), while expenditures are expected to amount to 21.047 billion manats (including centralized expenditures in the amount of over 20.323 billion manats, local expenditures in the amount of 723.925 million manats).

(1.7 manats = 1 USD on June 13)