BAKU, Azerbaijan, November 12. Azerbaijan aims to fully cover its current expenditures from non-oil revenues by 2030, Deputy Finance Minister Himalay Mamishov said, Trend's correspondent reports.
He made the remarks on Thursday, November 12, during a joint meeting of the parliamentary committees on Youth and Sports, Public Associations and Religious Institutions, and Culture, where the draft law "On the State Budget for 2027" was discussed.
He noted that Azerbaijan's state budget expenditure for 2027 is projected at 42.4 billion manat (24.9 billion).
"This is 696.4 million manat ($409.6 million), or 1.7%, more than this year. Over the medium term, from 2023 to 2027, state budget expenditure has increased by 5.9 billion manat ($3.47 billion), or 16.3%.
Of the total state budget expenditure planned for next year, 26.4 billion manat ($15.5 billion), or 62.3%, will be allocated to current expenditures; 13.8 billion manat ($8.1 billion), or 32.5%, to capital expenditures; and 2.2 billion manat ($1.29 billion), or 5.2%, to debt servicing.
I would like to note that 90.1% of current expenditures in 2027 will be covered by revenues from the non-oil and gas sector. This is 2.1 percentage points higher than in 2026. Our target for 2030 is to cover all current expenditures entirely from non-oil revenues," the deputy minister said.
