15:21 - 27.02.2025

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February 27, Fineko/abc.az. In 2024, GDP of the Nakhchivan Autonomous Republic increased by 3.1% compared with 2023.

ABC.AZ was informed at the Ministry of Economy that the share of local revenues to recoup NAR’s expenses made up 30% in 2022, 38% in 2023 and 57% in 2024.

Last year, 87.5% of NAR’s local revenues generated from revenues from the Economy Ministry.

The tax policy pursued in recent years, being one of the main instruments of economic regulation, is aimed at stimulating economic growth and developing the business environment. In Nakhchivan, tax control measures have been minimized in 2023 and 2024.

In the cities of Nakhchivan, Sharur, Babek and Ordubad, business entities have commissioned taxpayer service centers in order to increase the level of voluntary activity in the tax sphere.

As a result of the measures taken, the level of voluntary action by business entities in the tax sphere in 2024 made up 99.1%, and voluntary declaration – 99.5%.

Thus, the measures taken to improve the tax system in the NAR have significantly increased tax revenues.

In 2024, tax revenues in Nakhchivan grew by 37.6% compared with 2023 up to 226.6 million manats (30.2% more than the forecast figures).