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Azerbaijan to further reduce dependence on oil-gas revenues, finance minister says

21 November 2025 13:06 (UTC +04:00)

We will further reduce our dependence on the oil-gas factor, said Minister of Finance Sahil Babayev at today’s plenary meeting of the Milli Majlis while discussing amendments to the Tax Code, APA reports.

The minister stated that the total tax burden in our overall economy is 15.9%: “These parameters show that Azerbaijan has created a very favorable regime for entrepreneurs and the private sector. In fact, we have freed 2/3 of our consolidated revenues from oil revenues. We will further reduce our dependence on the oil-gas factor. The proposed budget package creates serious opportunities for us to ensure the sustainability and soundness of the budget and to reduce the impact of external factors on the budget. The newly created regime is very favorable and sufficiently preferential. This budget package creates broad opportunities for the development of our economy, entrepreneurship, and the private sector during the coming year.”