Mikail Jabbarov: Growth in oil & gas sector has accelerated

Azerbaijan's GDP grew by 5.8% for Jan-Aug 2022 (versus Jan-Aug 2021) and exceeded AZN 84.8 bn

ADB improves Azerbaijan's economic growth forecast

The Asian Development Bank (ADB) has improved the forecast of GDP growth on Azerbaijan in 2022.

Azerbaijan may apply seasonal taxes

It is proposed to introduce seasonal taxes in Azerbaijan.

ASK made a profit

Azerbaijan Industrial Corporation completed 2021 with net profit of AZN 44.099 million. While in 2020, the net loss amounted to AZN 3.49 million.

43.7% of finances directed for fixed assets spent in industrial sector

Textile industry decreased by 28% for past 8 months

Over Jan-Aug 2022, the production of leather and leather goods, shoes in Azerbaijan amounted to AZN 14.6 million.

Mikail Jabbarov: Azerbaijan to work with WB on five priorities

Azerbaijan plans to work with the World Bank on five priorities.

90% of commercial legal entities created this year have form of LLC

Rate of VAT-payers increased

Number of taxpayers grew by 6.8%

Transport & logistics hub to be created in Alat FEZ

Israeli company to construct medical device manufacturing plant in Baku

The signing ceremony of the first agreement between the Alat Free Economic Zone and Israeli company BioPharmax took place in Baku.

Singaporean company intends to build a plant in Azerbaijan

On September 12, an event was held to sign a Memorandum of Understanding between the Agency for the Development of Economic Zones, the State Oil Company and Singaporean company Indorama Investments Ltd.

Fitch Solutions improves forecast on Azerbaijan

Fitch Solutions has improved its forecast on real GDP growth in Azerbaijan for 2022.

Economy Minister: Tax revenues from oil & gas sector increased

Tax transfers to State Budget increased by 68% for Jan-Aug 2022

Tax authorities of Azerbaijan transferred AZN 9 787.4 million to the State Budget for the past 8 months.

New enterprises under creation in Nakhchivan

Work is underway on the creation of limited liability company Nakhchivan Carpets & Yarn Production Enterprise, and a project has been prepared for the construction of wool yarn production.

Inflation rates in Turkey have grown

Copper continues to fall in price for 5 months

The price for copper continues to decline for the 5th month in a row.

US economy contracted

The data on the gross domestic product (GDP) of the US economy for the period from April to June has been updated.

White House: US economy will contract

The White House cut its 2022 growth forecast for the US economy from 3.8% to 1.4%.