Baku: Azerbaijan’s revenues in the oil and gas sector are projected to decrease by AZN 750 million, as announced by the country’s Minister of Finance, Samir Sharifov. This information was disclosed during a discussion on the draft law for the “State Budget of the Republic of Azerbaijan for 2025” at a meeting of the Milli Majlis Committee for Economic Policy, Industries, and Enterprising.

According to Azeri-Press News Agency, Minister Sharifov attributed the decline in revenues to the depletion of oil fields, which have been extensively exploited over the years. The government is reportedly taking measures to address this issue. Meanwhile, there have been positive developments in the non-oil sector, with AZN 960 million inflows recorded from this sector.