Baku: Azerbaijan anticipates that by 2029, its state budget’s current expenditures will be fully financed through non-oil and gas revenues. This transition is attributed not only to a rise in non-oil revenue streams but also to efforts in optimizing current expenditures.

According to Azeri-Press News Agency, the “Medium-Term Expenditure Framework for 2026-2029,” crafted by the Ministry of Finance, outlines these projections. The framework indicates that by 2026, 88.1% of the current expenditures will be covered by non-oil and gas revenues. This coverage is expected to rise to 95.2% in 2027, further increasing to 98.7% in 2028, and reaching 101.5% in 2029.

In the same timeframe, the growth rate of current expenditures is projected to be 1.65% in 2026, followed by a decrease of 0.5% in 2027. The growth is then expected to pick up to 2.3% in 2028 and 2.5% in 2029.