Baku: Azerbaijan's budget revenues are anticipated to exceed the approved forecast by AZN 836 million by the end of this year.

According to Azeri-Press News Agency, the Ministry of Finance projects that by the end of 2025, state budget revenues will reach 39 billion 192 million manat, marking an increase of 836 million manat or 2.2 percent above the approved forecast.

The breakdown of the state budget revenues reveals that 49.1 percent, amounting to 19,243.0 million manat, will be sourced from the oil and gas sector, while the remaining 50.9 percent, accounting for 19,949.0 million manat, will come from the non-oil and gas sector. Compared to the approved indicators, revenue increments are projected at 470.0 million manat or 2.5 percent for the oil and gas sector, and 366.0 million manat or 1.9 percent for the non-oil and gas sector.

The expected state budget revenues include 16,320 million manat or 41.6 percent from taxes and duties, 6,600 million manat or 16.8 percent from customs duties and import tax revenues, 14,481.0 million manat or 36.9 percent from transfers from the State Oil Fund of the Republic of Azerbaijan, 680.0 million manat or 1.7 percent from extrabudgetary revenues of budget organizations, and 1,111 million manat or 2.8 percent from other revenues.

Revenues from taxes and duties are projected to be 16,320.0 million manat, which marks an increase of 820.0 million manat or 5.3 percent compared to the approved indicator for the current year. Of these funds, 4,300.0 million manat or 26.3 percent will be attributed to the oil and gas sector, while 12,020 million manat or 73.7 percent will relate to the non-oil and gas sector. Tax contributions from the State Oil Company of the Republic of Azerbaijan represent 41.9 percent or 1,800.0 million manat of the tax revenues in the oil and gas sector. Additionally, 9.3 percent or 400 million manat will come from profit tax of contractor organizations operating under production sharing agreements on the Azeri-Chirag-Guneshli project, and 48.8 percent or 2,100.0 million manat from profit tax of contractor organizations involved in the Shah Deniz project.