Babayev: Azerbaijan aims to cover current budget spending with non-oil-gas revenue by 2030

Azerbaijan's Finance Minister Sahil Babayev said the country aims to fully cover current state budget expenditures with non-oil-gas revenue. He made the remarks at a meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, held to discuss the 2027 budget package.

According to Babayev, the share of current expenditures covered by non-oil-gas revenue is projected to reach 90% next year. The target for 2030, the end of the medium-term period, is 100%. He said the non-oil-gas revenue share in the consolidated budget will be 64.5% next year, 1.5 percentage points higher than this year.

Babayev added that the 2030 target for the non-oil-gas share is 70%. From next year, about two-thirds of the state and consolidated budgets will be financed by non-oil-gas revenue, and the government plans to increase this indicator further.