Finance Ministry: By 2030, Azerbaijan's non-oil and gas revenues should cover current state budget expenditures

Azerbaijan intends to fully cover the current expenditures of the state budget through non-oil and gas revenues by 2030.

As Report informs, this was stated by Minister of Finance Sahil Babayev at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship during the discussion of the 2027 budget package.

According to him, next year non-oil and gas revenues are expected to cover 90% of the budget's current expenditures.

"By 2030, that is, by the end of the medium-term period, our goal is to bring this figure to 100%. This is one of our main fiscal goals in terms of budget sustainability," the minister noted.

Babayev also reported that in 2027 the share of non-oil and gas revenues in the consolidated budget will amount to 64.5%, which is 1.5 percentage points more than in the current year.

"Our goal for 2030 is to bring this figure to 70%. This is also a significant achievement. Already from next year, approximately two-thirds of the state and consolidated budgets will be provided by non-oil and gas revenues. Going forward, we plan to increase this figure even further," he added.