BAKU, Azerbaijan, October 29. Over the first nine months of this year, 63.1 percent of Nakhchivan's budget revenues came from local sources, Trend reports via the Ministry of Finance of the Nakhchivan Autonomous Republic.
Meanwhile, it is noted that while in 2022 the total amount of subsidies to the budget of the Nakhchivan Autonomous Republic amounted to 425 million manat ($250 million), in 2023 this figure amounted to 315 million manat ($185.2 million), and in 2024, 185.2 million manat ($108.9 million). Overall, the volume of subsidies to the budget of the Nakhchivan Autonomous Republic for the period 2022-2024 decreased by 239.9 million manat ($141.1 million), or 56.4 percent. This indicates an expansion of economic potential and a significant strengthening of the role of local revenues in the budget system.
Moreover, it is reported that measures taken to mobilize local financial resources, improve tax administration, and increase the efficiency of financial management are yielding real results. Consequently, this trend observed in 2022–2024 creates a solid economic and administrative foundation for the formation of a more sustainable and balanced budget system in the NAR.
"In the first nine months of 2025, the NAR budget revenues amounted to 325.5 million manat, of which 205 million ($120.5 million) and 559,140 manat ($328,905), or 63.1 percent, came from local revenues. Subsidies amounted to 120 million manat ($70.5 million), or 36.9 percent, which is 50.1 million manat ($29.4 million), or 29.5 percent, less than in the corresponding period of 2024 (170.1 million manat ($100.05 million)). This downward trend indicates that the NAR budget revenues are gradually beginning to be formed from internal financial sources," the ministry said.
