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Azerbaijan’s Accounts Chamber proposes clarification of non-oil revenue calculations

04 November 2025 13:19 (UTC +04:00)

It is proposed to clarify the requirements for the calculation of non-oil revenues, while the challenges related to the formation of the pension provision system are considered fiscal risks, APA reports.

During the discussion of “2026 State Budget Envelope of the Republic of Azerbaijan,” at the meeting of Milli Majlis (Azerbaijani Parliament) Committee for Economic Policy, Industries and Enterprising the Chairman of the Accounts Chamber, Vugar Gulmammadov, said that in addition to the corresponding indicator of the budget rule, the projected amount of non-oil revenues is also used when determining the provision of budget expenditures with sustainable sources of income.

Vugar Gulmammadov stated that it is a positive case that, for the first time, medium-term forecasts for the coverage of current expenditures with non-oil and gas revenues have been presented in the Explanatory Note: “Based on the methodological requirements used in international practice for the calculation of non-oil revenues, we must clarify the analogous requirements of the Law ‘On the Budget System.’”

The Chairman of the Accounts Chamber noted that the composition of factors assessed as fiscal risks in the explanatory note for the draft law has been expanded; unlike the previous year, challenges related to the external economic environment and trade tariffs, as well as the formation of a sustainable pension provision system, have also been indicated as fiscal risks: “We share these risks, and at the same time, we have noted other risks in the opinion.”