Azerbaijan boosts agricultural spending by 27% over five years

Azerbaijan increased its agricultural spending by 27.1% over the past five years, allocating 233.6 million manats (approximately $137.4 million) more in 2024 compared to 2020, according to a bill on the execution of the 2024 state budget.

Anews informs that in 2024, expenditures on agriculture, housing and communal services, and environmental protection totaled 1.78 billion manats ($1.05 billion), or 4.7% of overall government spending. This figure was 135.4 million manats ($79.6 million) below the initial forecast but still represented an 8.5% increase—138.6 million manats ($81.5 million)—over 2023 levels.

Including additional funding of 1.08 billion manats ($633.9 million) from targeted spending, reserve funds, and other budgetary sources, the total allocation for these sectors reached 2.85 billion manats ($1.68 billion). That marks a year-on-year increase of 166.3 million manats ($97.8 million), or 6.2%.

Agricultural spending accounted for 0.9% of GDP and 2.9% of the national budget in 2024.