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Volume of transfers from Oil Fund to state budget is being reduced by 1.7 billion manat

19 November 2025 12:44 (UTC +04:00)

The transfer from the Oil Fund to the state budget will be reduced by 1.7 billion manats, said Finance Minister Sahil Babayev today during the plenary session of the Milli Majlis while discussing the draft law “On the State Budget of the Republic of Azerbaijan for 2026,” APA reports.

The minister noted that state budget revenues for 2026 are projected at 38.6 billion manats: “Of this amount, 22.2 billion manats—57.4%—will come from the non-oil sector, which is 2.1 billion manats or 10.6% more compared to the current year. As a result, 88% of current expenditures are expected to be covered by non-oil revenues. Non-oil revenues will include 13.3 billion manats from tax authorities, 6.9 billion manats from customs authorities, 1 billion manats from paid services of budgetary organizations, 531 million manats from other revenues, and 450 million manats from dividends. Revenues from the oil and gas sector are forecast at 16.4 billion manats, or 42.6% of total budget revenues. Of this amount, 3.6 billion manats will come from consortiums and SOCAR, while 12.8 billion manats will come from the State Oil Fund’s transfer to the state budget.”

Sahil Babayev emphasized that thanks to the increase in non-oil revenues, the volume of the Oil Fund’s transfer to the state budget will decrease by 1.7 billion manats in 2026: “This aligns fully with our strategy to preserve the State Oil Fund’s reserves. Compared to the current year, tax revenues will rise by 9.1%, customs duties and import-related tax revenues by 4%, paid service revenues by 16%, and other revenues by 9.6%.”