BAKU, Azerbaijan, November 11. Azerbaijan's state budget revenues totaled 33.57 billion manat ($19.7 billion), and expenditures amounted to 28.76 billion manat ($16.9 billion) from January through October 2026, forming a surplus of 4.8 billion manat ($2.8 billion) in the state budget.
This was reflected in the State Statistical Committee’s report.
According to the data, during the reporting period, state budget revenues increased by 2.1% in nominal terms compared to the same period last year. For comparison, annual revenue growth stood at 0.6% from January through September 2026. Thus, as of October, the annual growth rate of budget revenues rose by 1.5 percentage points.
The state budget expenditures also increased. From January through October this year, budget spending rose by 3.8% in nominal terms compared to the same period last year. From January through September, this figure stood at 2.8%, indicating a 1-percentage-point acceleration in annual expenditure growth.
The 4.8 billion manat surplus, resulting from revenues exceeding expenditures, indicates that public finances ended the reporting period with a surplus.
Another key indicator of the country's financial sustainability is its strategic foreign exchange reserves. As of October 31, 2026, Azerbaijan's strategic foreign exchange reserves reached $88.55 billion, up 7.3% from the same period last year. For comparison, annual growth in strategic foreign exchange reserves stood at 9.7% at the end of the period from January through September.
External public debt, meanwhile, declined. As of October 31, 2026, Azerbaijan's external public debt amounted to $4.48 billion, down 7.7% from the same period last year. Compared to the figure at the end of the period from January through September, the annual decline stood at 7.8%.
Positive trends were also observed in the banking sector's financial support for the economy and household savings in the banking system.
As of September 30, 2026, loans to the economy totaled nearly 35.74 billion manat ($21 billion), representing a 15.1% nominal increase compared to the same period in 2025. At the end of the first nine months of this year, annual growth in lending stood at 14.5%.
Household bank deposits also recorded stronger growth. As of the reporting date, deposits held by individuals in banks reached 18.84 billion manat ($11.1 billion), up 19.3% from the same period last year. For comparison, annual deposit growth stood at 17.8% at the end of the first nine months of this year.
