Production in oil and gas sector reduced by 4.9%

Forecast: Sweden's economy to shrink by end of 2023

Sweden is the only country in the European Union, whose economy will shrink by 2024, ABC.AZ reports, referring to European Commission’s analysts

This year began in Azerbaijan with contraction of economy

Azerbaijan produced GDP of AZN 9.69 bn in January 2023, or 1.5% less versus January 2022.

Fitch has made a forecast on Armenia

98.3% of preferential loans given to SMEs in 2022

A significant part of the preferential loans given by the Entrepreneurship Development Fund under the Ministry of Economy in 2022 were given to micro, small and medium-sized enterprises

Up to 38,000 new jobs to be created in Azerbaijan

Throughout 2016-2022, more than 570 investment promotion documents were issued to over 470 entrepreneurs.

Ensuring development of liberated lands to require significant capital investments

State support for small and medium-sized businesses (SMEs) in Azerbaijan should not be limited to concessional loans.

Minister: Last year, 50% of State Budget revenues came from non-oil sector

Tax collection is the success of an entrepreneur's business.

Branches of banks and companies to open in Nakhchivan

New chairman of Nakhchivan State Service appointed

The new head of the State Tax Service of the Nakhchivan Autonomous Republic has been appointed.

Business environment to be improved in Nakhchivan

Improvement of the business environment and measures to support entrepreneurs have been discussed in the Nakhchivan Autonomous Republic.

Azerbaijan to lose AZN 10 million for these benefits

Tax benefits applied to media entities will cost AZN 10 million for the State Budget.

Gold production exceeded the plan in 2022

AzerGold sold 63,300 ounces of gold in 2022

Record foreign trade deficit in Turkish economy

Ali Asadov signs order on preparation of draft state budget for 2024

Azerbaijani Prime Minister Ali Asadov signed an order on the preparation of the Draft State Budget for 2024, the concept of economic & social development of the country and medium-term forecasts.

4 enterprises to start operating in Sumgait Chemical Industrial Park

In 2023, four enterprises are planning to start production activities in the Sumgait Chemical Industrial Park.

Start date of first enterprise in Araz Valley economic zone announced

It was announced that the first enterprise in industrial park “Araz Valley Economic Zone" will begin work at the end of 2023.

Financial sanctions for AZN 2.7 million applied to taxpayers

In 2022, 317 control measures were carried out for 170 taxpayers operating in various fields of activity, including import, wholesale and retail trade, production, catering, according to the results of which 413 violations were revealed.

68 new state standards adopted last year

Data unveiled on output produced in industrial zones of Azerbaijan

To date, products for more than AZN 8.8 bn have been manufactured in the industrial zones of Azerbaijan, and output for AZN 2.9 bn have been directed for export