Ilham Aliyev: Our industry and economy are growing

President Ilham Aliyev delivered speech at the groundbreaking ceremony of the Garadagh solar power plant, held at the Gulistan Palace. The plant with capacity of 230 MW will be constructed in Azerbaijan by Masdar (UAE).

Azerbaijan's public debt decreased by 8.7%

Azerbaijan's GDP grew by 5.6% in 2021, ABC.AZ reports, quoting MP Tair Mirkishili as saying this at today's plenary session of the parliament.

Fighting inflation is a priority of the government

Prime Minister Ali Asadov has raised some issues, when presenting Cabinet Ministers’ report for 2021 at today's Milli Majlis meeting.

How will Ukrainian crisis affect Russian-Azerbaijani economic ties?

MP: Sanctions against Russia not to bypass Azerbaijan

The sanctions imposed against Russia, restrictions and bans on food exports will also have an impact on the trade turnover between Azerbaijan and Russia.

Iranian companies to work in liberated territories as well

Iranian companies will also work on the restoration of the liberated territories.

Moody's downgrades Ukraine's credit rating

International credit rating agency Moody's has downgraded Ukraine's credit rating from B3 to Caa2.

Russia abolishes VAT on purchase of precious metals in bullions

The State Duma adopted in the 1st reading and in general a law that removes the sale of precious metals in bars to individuals from VAT.

S&P has once again downgraded Russia's rating

S&P Global Ratings has downgraded for the second time Russia’s long-term credit rating in foreign currency to CCC- from BB+.

IMF: We expect Azerbaijani economy growth by 1.7% and nonoil GDP by 2.5%

The Azerbaijani economy has recovered strongly, as progress with vaccination allowed an easing of social distancing measures, supported by the increased growth in the hydrocarbon sector.

Moody's downgrades Russia's ratings by six notches at once

Moody's Investors Service has downgraded the Government of Russia's long-term issuer debt ratings in local and foreign currency by six notches at once - to B3 from Baa3.

JPMorgan: Russia's economy to fall sharply

The Russian economy may fall by 20% in the 2nd quarter of this year due to the sanctions imposed against it, and by 3.5% over the year of their operation.

Tahir Mirkishili: Digital economy creates challenges for VAT

Turnover of online sales registers grew 1.8-fold in 2021

The State Tax Service under the Ministry of Economy refunded AZN 138.5 million of VAT to consumers through authorized banks in 2021 (AZN 33.4 million in 2020)

Economy Minister: Azerbaijan prepares development priorities

A forum on the theme "Tax reforms for inclusive & sustainable development: towards voluntary interaction with digital transformation" has been held in Baku.

State Budget tax revenue exceeds AZN 8 bn

The tax revenue of the State Budget of Azerbaijan amounted to AZN 8.5 bn (growth of 17.6% against the forecast and 15.5% compared with 2020).

Presidential Aide: Tax incentives to be introduced to stimulate activity in liberated territories

The ongoing reforms of tax policy, legislation and administration, along with the creation of adequate opportunities to ensure State Budget expenditures, serve to stimulate entrepreneurial activity.

Sharp price growth observed on aluminum

Aluminum prices have increased sharply.

Azerbaijan's external debt published

As of 1 January, Azerbaijan's external debt amounted to $8.135 bn (AZN 13.8 bn), or 14.9% of GDP.

Azerbaijan Center of IV Industrial Revolution Network opens

Inflation in eurozone has accelerated

The annual inflation in 19 eurozone countries accelerated up to 5% for January 2022 (against 5.1% a month earlier)