MP: Azerbaijan’s state budget revenues for 2024 may exceed expectations

Chairman of the Azerbaijani Parliament’s Committee on Economic Policy, Industry and Entrepreneurship Tahir Mirkishili has said that Azerbaijan's state budget revenues in 2024 may exceed forecasts.

He made the remarks at the Parliament’s plenary session on November 13, Report informs.

According to him, the state budget revenues for 9 months of the current year, and the high probability of realisation of the optimistic scenario next year give reason to believe that the budget revenues in 2024 will exceed expectations.

"In the submitted draft, the state budget revenues for 2024 are indicated at 34.173 billion manats [$20.1 billion], which is 282.5 million manats [$166.2 million] more than in 2023. Of these, 50.2 per cent will be generated by the non-oil and gas sector, while 49.8 per cent will come from the oil and gas sector. It is forecast that budget revenues from the non-oil and gas sector will increase by 1.058,2 billion manats [$611.7 million], while budget revenues from the oil and gas sector will decrease by 775.7 million manats [$456.3 million]," he said.