BAKU, Azerbaijan, July 23. Azerbaijan’s state budget revenues from the oil and gas sector reached 9.52 billion manat ($5.6 billion) in the first half of the year, exceeding forecasts by 247.8 million manat ($145.7 million) (2.7 percent) and showing an increase of 728.8 million manat ($428.7 million) (8.3 percent) compared to the same period in 2024.
Data obtained by Trend from the Ministry of Finance indicates that tax revenues accounted for 24 percent of these oil and gas sector inflows, totaling 2.28 billion manat ($1.34 billion), while transfers from the State Oil Fund of the Republic of Azerbaijan (SOFAZ) made up 76 percent, or 7.24 billion manat ($4.25 billion).
Overall, state budget revenues amounted to 19.8 billion manat ($11.6 billion), surpassing projections by 704.8 million manat ($414.5 million) (3.7 percent) and increasing by 961.1 million manat ($565.3 million) (5.1 percent) compared to the corresponding period last year. This revenue performance corresponds to 51.6 percent of the annual budget income.
State budget expenditures totaled 17 billion manat ($10 billion), reflecting a rise of 1.04 billion manat ($611.7 million) (6.5 percent) compared to the same period last year and accounting for 41.3 percent of the annual planned spending.
