Baku Today
July 2, 2004

Azerbaijan’s Military Expenses Increased

More 171 billion manats ($34.9 million) will be allocated from
Azerbaijan’s state budget for the country’s military expenses in line
with changes in the 2004 budget, ANS reported on Wednesday.

The amount of money earmarked from the budget for military
expenditures currently equals $147 million, according to ANS. The
figure is $86 million in Armenia, ANS said.

Finance Minister Avaz Alakbarov told reporters that the additional
amount allocated from the budget makes up for 2.3 per cent of the
Gross Domestic Product (GDP) of Azerbaijan.

`It’s not a large figure. One should make strong efforts to find 171
billion manats and finance something. Therefore, I think the
president’s step is very necessary and timely,’ Alakbarov said.