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Accounts Receivable in Azerbaijan’s Liberated Territories Exceed 517 Million Manats

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A total of 4.45 billion manats was spent on reconstruction and restoration projects in Azerbaijan’s liberated territories in 2025. This represents a decrease of nearly 900 million manats compared to the previous year, when 5.4 billion manats were allocated for the same purpose.

The figures were disclosed in the Chamber of Accounts’ opinion on the execution of the 2025 state budget.

According to the report, 3.9 billion manats of the funds spent last year were directed toward the construction and rehabilitation of infrastructure projects. Financing was mainly provided through the state budget’s dedicated reconstruction program, the Reserve Fund, and state capital investments.

The Chamber of Accounts noted that accounts receivable related to reconstruction projects continue to grow. Outstanding receivables accumulated by nine contracting entities reached 517.4 million manats, an increase of 35 percent, or 150.3 million manats, compared to the beginning of 2025.

The report also highlights that part of the allocated funding remained unused. By the end of the year, five contracting entities had left a total of 65 million manats unspent in their bank accounts. Of this amount, 49.3 million manats belonged to BakuBus LLC, 12 million manats to the State Committee for Refugees and Internally Displaced Persons, and 3.7 million manats to AzerGold CJSC.

At the same time, implementation of several priority projects lagged significantly behind schedule. Of the 55.8 million manats allocated for ten projects managed by five contracting entities, only 1.3 million manats, or 2.3 percent, was spent. In addition, the implementation rate for 37 projects carried out by 13 contracting entities remained below 50 percent despite allocations totaling 124.7 million manats.

According to the Chamber of Accounts, an additional 17 billion manats will be required to complete the ongoing projects. Although nearly 4.9 billion manats was spent in 2025 on 405 projects with a combined value of 35.2 billion manats, only 111 of the 129 projects scheduled for completion by year-end were delivered. Delays persist in 13 other projects despite payments exceeding 162 million manats.