Azerbaijan projects 2026 budget revenues at 38.42 bln manats, based on $65 oil

Azerbaijan’s 2026 state budget revenues are projected at 38.42 billion manats ($22.6 billion), or 28.6% of GDP, based on an assumed oil price of $65 per barrel, the finance ministry said.

Of the total, 43.8% or 16.82 billion manats will come via the State Tax Service, 8.5% higher than the approved figure for 2025 and 6.4% above 2024 execution.

Transfers from the State Oil Fund are expected to account for 12.75 billion manats (33.2%), customs duties for 6.85 billion manats (17.8%), extra-budgetary revenues for 1.02 billion manats (2.7%), and other sources for 981 million manats (2.6%).

On the expenditure side, 24.77 billion manats (59.6%) are earmarked for current spending, 14.32 billion manats (34.5%) for capital investment, and 2.46 billion manats (5.9%) for debt service and obligations.

N. Tebrizli