Azerbaijan to allocate $2.3 bln for restoration of Karabakh

At today's meeting of Azerbaijan's Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship the draft Law of Azerbaijan "On the State Budget of Azerbaijan for 2024" has been submitted for discussion.

Azerbaijan will allocate 4 billion manat (more than $2 bln) for the reconstruction and restoration of the Karabakh economic region's settlements.

The State Budget for the next year envisages priority directions of expenditures on strengthening Azerbaijan's defense capability and implementation of the 'Great Return' program activities, Azerbaijan's Finance Minister Samir Sharifov said.

According to him, defence and national security expenditures will amount to 6.421 billion manats ($3.77 billion) next year.

The minister noted that the draft also includes expenditures on social protection of the population, continuation of reforms in the field of education and food security of Azerbaijan.

Sharifov also emphasized that financial support will be created to strengthen the inviolability of Azerbaijan's borders, improve the material and technical support of the army.