Azerbaijan expects 48 state-owned enterprises to pay 872 million manats, approximately $513 million, in net dividends to the state budget in 2027 as the Finance Ministry expands digital monitoring and fiscal-risk assessments.
The projection appears in the ministry’s report for January through September 2026. The net dividend forecast is 45.4% higher than the comparable figure for 2026.
The ministry agreed on total dividend payments of 918 million manats, or $540 million, with the 48 enterprises. Of that amount, 872 million manats would be net dividends and 46 million manats, approximately $27.1 million, would be dividend tax.
Electronic accounts have been opened for 1,113 state enterprises in the Digital Public Finance system. A separate monitoring register contains reports from 1,153 state entities and companies.
Fiscal-Risk Ratings Expanded
The ministry analyzed the financial performance of 32 state enterprises for 2023-2025, assigned fiscal-risk ratings and submitted the final report to Azerbaijan’s president.
It also prepared methodological guidance for assessing companies by sector and risk level, including threshold values for financial ratios and calculation procedures.
A database covering state-enterprise budget revenue and spending from 2020 through 2026 now tracks dividends, investments, subsidies and debt obligations. Budget plans and financial forecasts were reviewed separately for 35 enterprises for the next year and the following three-year period.
Oversight Through Supervisory Boards
Finance Ministry representatives joined the supervisory boards of about 40 state enterprises. More than 100 meetings were held during the reporting period, and the ministry prepared findings on more than 200 issues.
The government also instructed the ministry to oversee corporate-governance rules and standards at joint-stock companies in which the state holds a controlling interest. The change does not cover companies managed by AZCON or the Azerbaijan Investment Holding.
Sources: Vesti Baku; Trend.