Azerbaijan will maintain a budget surplus until 2027″/>
In 2024-2027, Azerbaijan will maintain a budget surplus at the level of 1.7 percent of gross domestic product (GDP) and a current account surplus at the level of seven percent of GDP, Day.Az reports.
According to S&P Global Ratings, until the end of 2027, the Azerbaijani government also plans to maintain the level of net assets at an average of about 50 percent of GDP.
“We believe that strong foreign economic indicators will remain the main positive factor for Azerbaijan’s credit rating. This will be supported by significant foreign assets of the State Oil Fund of Azerbaijan (SOFAZ). According to our estimates, the volume of external liquid assets will exceed external debt until the end of 2027, and net The international investment position will average 68 percent of GDP over the period 2024-2027,” the report says.
The S&P forecast also assumes that the general government will have an average budget surplus of 1.7 percent of GDP from 2024 to 2027.
“In the coming years, the Azerbaijani government expects a consolidated budget deficit based on an estimated average oil price of $60 per barrel, while our forecast is $80 per barrel. We forecast a state budget surplus of 3.4 percent of GDP in 2024 “, analysts note.
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