Baku, September 24, AZERTAC
“To ensure macroeconomic stability and sustainability, an oil price of $65 per barrel has been set for the economic forecasts and budget calculations (under the baseline scenario) for 2027–2030.” said Azerbaijan’s Prime Minister Ali Asadov during discussions held at the Cabinet of Ministers.
The PM noted that state budget revenues for 2027 are projected at 39.234 billion manats, while expenditures are forecast at 42.4 billion manats.
According to him, the ratio of the state budget deficit to GDP amounts to 2.2 percent.
“According to macroeconomic forecasts, gross domestic product is projected to grow by 2.7 percent, reaching 141.0 billion manats, in 2027, with a 4.4 percent real growth rate in the non-oil sector. The share of the non-oil sector in GDP is targeted to rise from the expected 72.5 percent at the end of the current year to 82 percent by the end of 2030,” Ali Asadov added.