Azerbaijan aims to fully cover current budget expenditures with non-oil revenues by 2030

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

Minister of Finance Sahil Babayev announced this target at todaychr("39")s meeting of the Milli Majlis Committee on Economic Policy, Industries, and Enterprising during the discussion of the 2027 budget package, Olaylar informs.

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

"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 targets in terms of budget sustainability," Babayev noted.

He 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 higher than in the current year.

"Our goal for 2030 is to bring this figure to 70%. This is also a major success. Starting next year, approximately two-thirds of the state and consolidated budgets will be provided by non-oil and gas revenues. In the future, we plan to increase this figure even more," he added.