Decline recorded on oil/gas sector of economy

Azerbaijan’s nominal GDP reached AZN 90.8 billion for Jan-Sept 2023, and real growth of the economy is estimated at 0.8%.

State Budget tax revenues grew more than by 22%

Over the past 9 months the State Budget tax revenues from the State Tax Service (under the Economy Ministry) increased by 22.6% versus Jan-Sept 2022 up to AZN 12.8 billion.

Tax revenues in Nakhchivan increased by 35%

Rate of registered taxpayers doubles in Nakhchivan

In the 1st half of 2023, 4,340 new taxpayers were registered in the Nakhchivan Autonomous Republic.

Over 291,000 ASAN Imza certificates issued in 2023

More than 291,580 ASAN Imza certificates were issued in Azerbaijan on 191,685 applications for Jan-Sept 2023.

IMF forecast: Country’s unemployment rate to drop to 5.8% next year

The International Monetary Fund (IMF) has updated the unemployment forecast in Azerbaijan.

IMF lowers inflation forecast on Azerbaijan

The International Monetary Fund (IMF) has updated its inflation forecast for Azerbaijan this year.

AzerGold raised over AZN 43 million to local economy

AzerGold CJSC, which produces and exports precious metals, carried out the largest volume of export operations in September of this year.

Georgia increases budget in this area

The Parliament of Georgia has submitted for discussion the draft budget for 2024, ABC.AZ reports with reference to the Georgian Ministry of Defense.

ING Corporation updated forecast on inflation in Azerbaijan

The International Corporation of Banking & Financial Services of the Netherlands ING (Internationale Nederlanden Groep) has updated the forecast on inflation in Azerbaijan.

Number of active taxpayers in Azerbaijan grew by 5.7%

As of October 1, 2023, the number of active taxpayers in Azerbaijan reached 752,500.

WB improves forecast on Azerbaijan State Budget revenues

AzeSteelCompany suffers losses for nearly AZN 2 million

AzeSteelCompany OJSC, engaged in the production of metal products and industrial gases, including valves, completed 2022 with loss of AZN 1.806 million.

Presidential decree on Aqrarkredit

High-quality drugs to become available for population at lower prices

WB forecast: Azerbaijan's economy to grow by 2.5% in 2025

Carbon is most often used in these services – List

Most of the carbon in the world is used in public utilities.

President Ilham Aliyev gave instructions to combat unfair competition

Azerbaijani President Ilham Aliyev has given instructions to combat unfair competition.

Inflation in Azerbaijan to decrease to 5.4% in 2025

Azerbaijani plant reports lowered revenues and grown expenses

Baki Fahlasi Machinebuilding Plant OJSC (BFMZ), engaged in development and maintenance of oil and gas, petrochemical industrial equipment in Azerbaijan, reduced earnings and increased expenses in 2022.

Tax Service head: Tax authorities begin to operate in liberated territories