Azerbaijan: public finances

Does Azerbaijan have a budget surplus?

Azerbaijan's general government had a surplus of 2.6% of GDP in 2025, according to the IMF World Economic Outlook of October 2026, which projects 3.7% for 2026. The surplus was 7.9% in 2023.

The general government balance covers central and local government and extra-budgetary funds, so it differs from the state budget alone. The Central Bank of Azerbaijan reports state budget spending of AZN 16.8 billion in January-June 2026, with spending on social protection and social security up 12.1% to AZN 8.8 billion.

Official sources: IMF World Economic Outlook, October 2026 · Central Bank of Azerbaijan: Monetary Policy Review, August 2026

How much debt does Azerbaijan's government have?

Azerbaijan's general government gross debt was 20.1% of GDP in 2025, according to the IMF World Economic Outlook, which projects 16.5% for 2026. It was 21.8% in 2023.

Gross debt does not subtract the government's financial assets. The Central Bank of Azerbaijan reports strategic foreign exchange reserves of $85.8 billion at the end of June 2026, enough to cover 40 months of imports of goods and services.

Official sources: IMF World Economic Outlook, October 2026 · Central Bank of Azerbaijan: Monetary Policy Review, August 2026

What is Azerbaijan's national debt?

The IMF puts general government gross debt in Azerbaijan at 20.1% of GDP in 2025. Its high point since 2005 was 2021, at 26.3% of GDP; its low point was 2008, at 3.2% of GDP. Across Europe & Central Asia the middle value was 46.9% of GDP, and Azerbaijan placed 47th highest of 51. World rank, highest first: 171st of 185.

Does Azerbaijan's government borrow more than it raises?

The latest figure from the IMF, for 2025, is 2.6% of GDP. Its high point since 2005 was 2008, at 17.2% of GDP; its low point was 2020, at -6.4% of GDP. It is 6th highest of 51 in Europe & Central Asia, where the median is -2.4% of GDP. World rank, highest first: 19th of 188.

What is Azerbaijan's government revenue?

37.1% of GDP: that is general government revenue in Azerbaijan for 2025, according to the IMF. The peak was 48.6% of GDP in 2008 and the low 25.2% of GDP in 2005. Across Europe & Central Asia the middle value was 41.3% of GDP, and Azerbaijan placed 34th highest of 50. World rank, highest first: 52nd of 187.

How much does Azerbaijan's government spend?

34.6% of GDP: that is general government spending in Azerbaijan for 2025, according to the IMF. The peak was 40.2% of GDP in 2020 and the low 22.5% of GDP in 2005. Across Europe & Central Asia the middle value was 43.3% of GDP, and Azerbaijan placed 39th highest of 50. World rank, highest first: 72nd of 186.

What is Azerbaijan's tax to GDP ratio?

The IMF puts central government tax revenue in Azerbaijan at 17.3% of GDP in 2024. Its high point since 2008 was 2023, at 17.8% of GDP; its low point was 2010, at 12.2% of GDP. Europe & Central Asia median: 20.8% of GDP; Azerbaijan is 34th highest of 42. World rank, highest first: 52nd of 92.

What is Azerbaijan's military budget as a share of GDP?

In 2025, military spending in Azerbaijan was 6.5% of GDP, according to SIPRI. That is the highest since at least 2005. It is 3rd highest of 46 in Europe & Central Asia, where the median is 2.0% of GDP. World rank, highest first: 6th of 149.