12:42 - 27.05.2025

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May 27, Fineko/abc.az. The non-resource revenues of the State Budget of Azerbaijan are insufficient to cover current expenses.

ABC.AZ reports that MP Vugar Bayramov stated about this during the discussion of the Bill on Execution of State Budget 2024 at today's meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship.

He added that the share of State Budget revenues in GDP in 2024 was 29.4% and expenditures - 29.9%:

"Although there is a dynamic growth in the share of fiscal expenditures in GDP, this indicator is still lower than in most developed and a number of developing countries. Thus, this figure in Italy is 53.8%, Hungary - 49.2%, Germany - 48.4%, Brazil - 45.4%, Spain - 45.3%, Great Britain - 44.2%, Russia - 36.5%, Kyrgyzstan - 35.7%, Turkey - 33.2%."

According to the MP, the results of 2024 show that revenues from the non-oil sector still do not cover current budget expenditures:

"Revenues from the non-oil sector amounted to 19.192 billion manats, while current expenses - 21.343 billion manats. This means that non-resource budget revenues are insufficient to cover current expenses, which makes it necessary to further increase the share of the non-oil and gas sector in fiscal revenues."