Azerbaijan announces forecasts for oil and gas revenues in coming 4 years

19:00 | 21.09.2023
Azerbaijan announces forecasts for oil and gas revenues in coming 4 years

Azerbaijan announces forecasts for oil and gas revenues in coming 4 years

The oil and gas revenues of the state budget of Azerbaijan are predicted to amount to 16.756 billion manats ($9.86 billion) in 2024, 5.5% less than the approved figure of 2023, reported from the Finace Ministry.

12.781 billion manats ($7.52 billion) of annual revenues should be transferred from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget, which means an increase of 8.9%.

In 2025, Azerbaijan's oil and gas revenues are expected to be 17.701 million manats ($10.41 billion), which is 5.6% more than the forecast for 2024. Of this, 13.707 billion manats ($8.6 billion) will be transferred from SOFAZ to the budget, up 7.2% from the 2024 forecast.

The oil and gas revenues of Azerbaijan in 2026 are expected to decrease by 4.9% compared to the 2025 forecast and amount to 16.839 billion manats ($9.91 billion). Of this, 13.086 billion manats ($7.7 billion) will be transferred from SOFAZ to the budget, which is 4.5% less than the 2025 forecast.

The 2027 revenues of Azerbaijan from oil and gas sector are projected at 16.227 billion manats ($9.5 billion), 3.6% less than the forecast of 2026. 12.610 billion manats ($7.42 billion) of this will be transferred from SOFAZ to the budget, showing a 3.6% less than the 2026 forecast.

With this, Azerbaijan's oil and gas revenues are forecasted to decrease by 3.1% in the next 4 years. During these years, the transfer from SOFAZ to the budget will decrease by 1.3%.

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