Azerbaijan’s expenses in non-oil sector to decrease by almost 10%
Baku, Azerbaijan, Sept. 23
By Eldar Janashvili - Trend:
The share of non-oil sector in total income of Azerbaijan in 2024 is projected at 48.9 percent, which is 17.1 percent less than in 2018, Trend reports referring to the report of the International Monetary Fund (IMF) on the government’s consolidated activities for 2017-2024.
It is expected that starting from 2019, non-oil sector revenues will begin to decline by an average of 3.42 percent per year.
In the revenue structure, the share of tax revenues from the non-oil sector is expected to reach 20.2 percent, which is 3.8 percent less than the results for 2018. The average annual decline is expected at 0.75 percent.
The share of the non-oil sector in total expenditures of Azerbaijan in 2024 is projected at 46.8 percent, which is 9.6 percent more than in 2018. At the same time, constant reduction in expenditures is forecasted from this year, while the average decline in expenditures for the year will be 1.9 percent.
In the structure of expenditures, the share of non-oil sector in the current expenditures of the Azerbaijani government for this year is projected at 34.8 percent, which is 2.1 percent less than the results for 2018. The average annual decline is expected at 0.4 percent.