Baku:Azerbaijan's state budget revenues from the non-oil and gas sector are projected to reach their highest level in two decades by 2027, according to a report by APA.

According to Azeri-Press news agency, the draft law "On the State Budget of the Republic of Azerbaijan for 2027" reveals that 60.6% of the projected state budget revenues, amounting to AZN 23 billion 774 million, will be derived from the non-oil and gas sector. This marks a significant increase from previous years, reflecting an upward trend from 43.3% to 51.9% over the past five years.

The draft law, currently under discussion at the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis, estimates total state budget revenues for 2027 to be AZN 39 billion 254 million. Of this, 39.4%, or AZN 15 billion 480 million, is expected to come from the oil and gas sector.

Furthermore, the proposed legislative amendments have led to a deduction of AZN 297 million from total revenues to avoid double-counting, particularly concerning the Ministry of Economy's extra-budgetary funds. Compared to the 2026 budget, oil and gas sector revenues are expected to decrease by AZN 955 million or 5.8%, while non-oil and gas sector revenues are anticipated to increase by AZN 1.6 billion or 7.2%.

When compared to the actual figures for 2025, oil and gas sector revenues are projected to fall by AZN 3 billion 348.4 million or 17.8%, whereas non-oil and gas revenues are expected to rise by AZN 3 billion 417.8 million or 16.8%.