BAKU, Azerbaijan, November 16. Azerbaijan's state debt is expected to remain at the level of 20 percent of GDP by 2026, Deputy Director of the Development Center of Ministry of Finance's Medium-Term Expenditure Framework (MTEF) Rashad Hasanov said at the 3rd Finance and Investment Forum on November 16, Trend reports.
According to him, the non-oil base deficit is to be reduced to 17.5 percent of GDP as part of the socio-economic development of Azerbaijan by the same period.
"The state budget of Azerbaijan is mainly formed through the State Oil Fund transfers. The country is currently working on reducing the state budget dependence on the oil sector," Hasanov said.