Sahil Babayev: Azerbaijan's dependence on oil revenues is declining

Dependence on oil is steadily declining.

As APA reports, this was stated by Minister of Finance Sahil Babayev at a joint meeting of the Milli Majlis committees on legal policy and state building, on defense, security and the fight against corruption, on human rights, and on regional issues.

The minister noted that the level of coverage of current expenditures by non-oil revenues stands at 90.1%: "This is 2.1 percentage points higher compared to 2026. The goal by 2030 is to bring this indicator to 100%. The share of non-oil revenues in the consolidated budget is 64.5%, which exceeds the 2026 figure by 1.5 percentage points. Our goal by 2030 is to reach a level of 70.4%."