BAKU, Azerbaijan, November 6. Azerbaijan’s current account balance is projected to reach $1.9 billion in 2026, before declining to $1.23 billion over the following two years and later rising again to $1.83 billion by the end of the medium term due to increased gas production, Trend reports.
The matter was addressed in the opinion of the Accounts Chamber of the Republic of Azerbaijan on the draft state budget for 2026, which was reviewed during a parliamentary meeting of the Committee on Economic Policy, Industry, and Entrepreneurship.
The report notes that one of the main determinants of the 2026 balance of payments forecast is the price and production level of oil and gas. The assumption of an oil price of $65 per barrel and a generally declining trend in oil and gas production, except for 2029, has influenced the formation of the current account surplus.
Forecasts also indicate that the ratio of non-oil and gas sector imports financed by the corresponding sector’s revenues will gradually increase to 36.2 percent during 2026–2029.
At the same time, it is projected that exports of non-oil and gas products will amount to $4.2 billion in 2026.