BAKU, Azerbaijan, June 12. Azerbaijan recorded
its highest levels of state budget revenue and expenditure
execution in December 2025, according to an analysis released by
the Chamber of Accounts.


The findings were included in the Chamber's opinion on the draft
law "On the Execution of the State Budget for 2025."


According to the report, state budget revenue execution ranged
from 92.8% to 116.5% of forecast levels throughout 2025. Revenue
collection exceeded projections in eight months and fell short in
four months.


The highest revenue execution rate was recorded in December at
116.5%, driven by increased receipts through the Ministry of
Economy, revenue from paid services provided by budget-funded
organizations, and other income sources, including dividend-related
revenues.


The lowest revenue execution rate was recorded in November at
92.8%. The shortfall was attributed to lower-than-expected revenues
from the Ministry of Economy, the State Customs Committee, and
other sources, including dividend-related income.


The analysis found that revenues administered by the Ministry of
Economy and the State Customs Committee generally exceeded
forecasts in most months. Although transfers from the State Oil
Fund fell below target in January and April, the gap was offset by
higher transfers in subsequent months.







State budget expenditure execution ranged from 68.5% to 114.6%
of forecast levels during the year, according to the Chamber. The
highest spending execution was recorded in December, largely due to
capital investment projects and the renovation of non-residential
buildings.


The lowest expenditure execution rate was registered in
September at 68.5%, mainly because of lower utilization of reserve
funds and investment spending during that period.


December accounted for the largest share of annual government
spending, representing 18.6% of total budget expenditures. The
Chamber noted that spending in December was 2.5 times higher than
the average monthly level.


The report also said Azerbaijan's state budget ended 2025 with a
surplus of 580 million manats. Budget revenues exceeded forecasts
by 828.6 million manats, while expenditures came in 2.8 billion
manats below projections.


According to the Chamber of Accounts, this marks the first time
in the past decade that Azerbaijan's state budget has closed the
year with a surplus.