Azerbaijan begins preparations for new socio-economic dev’t strategy covering 2027-2030

Azerbaijan’s Finance Ministry hosted the first meeting of the Macro-fiscal sustainability Sub-Working Group, established to develop the Socio-Economic Development Strategy of the Republic of Azerbaijan for 2027-2030, Report informs, referring to the ministry.

Speaking at the meeting, Minister of Finance and head of the Sub-Working Group Sahil Babayev noted that the document Azerbaijan 2030: National Priorities for Socio-Economic Development, approved by the Presidential Decree dated February 2, 2021, identifies Sustainably Growing Competitive Economy as one of the main priorities. Within this framework, resilience to internal and external influences stands out as one of the country's key long-term development directions.

The minister highlighted the importance of ensuring fiscal sustainability, protecting strategic foreign exchange reserves, and efficient management of public finances, including public debt. He also noted that the measures envisaged in the current socio-economic development strategy for 2022-2026 are being successfully implemented.

The meeting included discussions on initial directions, next steps, and measures related to the development of the new strategy covering 2027-2030. At the same time, an agreement was reached on strengthening cooperation between relevant government agencies and continuing activities in a coordinated manner.

The Macro-fiscal sustainability Sub-Working Group was established based on the Cabinet of Ministers' Decree No. 356s dated June 18, 2025, to ensure the implementation of the document on the preparation of the Socio-Economic Development Strategy of the Republic of Azerbaijan for 2027-2030 and the 2nd State Program on the Great Return to the Liberated Territories, approved by Presidential Decree No. 611 dated May 30, 2025.