Azerbaijan soars budget expenditures on mortgage and social housing by 50%

Azerbaijan soars budget expenditures on mortgage and social housing by 50%
Funds raised in the state budget for construction of social housing and mortgage in Azerbaijan are increased.

Report informs referring to the draft law on amendments to the state budget for 2017.

Thus, the increase in the amount of 50 mln AZN for "Economic and Commercial Activities" section of the revised budget of 2017 year is in full accounted for "Construction of social housing and mortgage costs".

Notably, in order to meet housing needs of population, the state budget of Azerbaijan Republic for 2017 plans allocation of $ 100 million for the purchase of housing on favorable terms. That is, the initial funding will be increased by 50%.

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