In 2023, most of State Budget spent in December

State Budget expenditures in 2023 were executed in excess of the forecast for 6 months and less than the forecast for 6 months.

Tax debt exceeded 2.8 bn manats last year

The debt on receipts from the State Tax Service amounted to 2.8 bn manats in 2023.

Last year, oil & gas sector reduced economic growth by 0.9 p.p.

In 2023, oil and gas GDP amounted to 45.343 bn manats, in real terms, a drop of 1.8% was recorded in this sector, thereby the oil and gas sector had downward impact on economic growth by 0.9 p.p.

Revenues from paid services of budget organizations last year were less than predicted

The execution amounted to 480.8 million manats or less by 376.2 million manats (43.9%) against the forecast of 857 million manats on revenues from paid services of budgetary organizations last year.

State Budget allocated 4.129 bn manats for education

The allocation of finances in the amount of 4.129 bn manats is stipulated in State Budget 2023 for education expenses.

Financing allocated for the year for restoration of liberated lands published

A total of 5.58 bn manats were allocated from State Budget 2023 for reconstruction and restoration of territories liberated from occupation.

Azerbaijan to join multilateral tax convention

Azerbaijan will join the multilateral tax convention.

Catastrophic risks can increase burden on State Budget

Last year, volume of risks associated with insurance coverage in Azerbaijan exceeded GDP by 4 times

Azerbaijan develops another type of tax 

Tajikistan and Azerbaijan sign agreements on projects for $700 million

Special zone to be created in Sumgait Chemical Industrial Park

Tax and VAT benefits to be applied in connection with COP29

Azerbaijan to introduce incentives for individuals rendering services within upcoming COP29 in Baku in November.

A company that earned only 145 manats in a year - Report

Imishli Avtonagliat OJSC announced the balance sheet results for 2023.

State Budget revenues increased

Mikayil Jabbarov met with Deputy PM of Ethiopia

Economy Minister Mikayil Jabbarov met with Deputy Prime Minister of the Federal Democratic Republic of Ethiopia Temesgen Tirune Dinku.

In April, inflation in U.S. fell to 3.4% year-on-year

Consumer prices in the U.S. increased by 3.4% year-on-year in April.

EBRD lowers Türkiye's growth forecast for 2024

The EBRD has reduced Türkiye's growth forecast for 2024 from 3% to 2.7%.

EBRD improves forecast of economic growth on Azerbaijan in 2024

The European Bank for Reconstruction and Development (EBRD) has raised its forecast for Azerbaijan’s economic growth to 3.1 percent in 2024 (from the 2.4 percent it forecast last year) as inflationary pressures subside

Rate of registered taxpayers in Nakhchivan increased by 11.5%

The Nakhchivan Autonomous Republic registered 2,161 new taxpayers for Jan-Apr 2024.

ING forecasts inflation to decrease sharply in Azerbaijan this year

ING (Internationale Nederlanden Groep), the international banking and financial services corporation of the Netherlands, has decreased sharply the inflation forecast for Azerbaijan.