In the first 11 months of this year 4,820 vehicles were delivered to Azerbaijan, which is 5.3 times less than in the comparable period of 2015. Experts point out that the situation in the car market clearly indicates the position of consumer demand and characterizes the economic crisis in the country.
According to the State Customs Committee, from the beginning of the year, 4,194 cars have been purchased abroad, 18,500 less than last year.
This year, the decrease in import of buses and minibuses (80) was tenfold, trucks (463) - fourfold, and special-purpose vehicles (83) - threefold.
Since January 2016 the excise rate for imported cars has been raised. The Ministry of Taxes has prepared and submitted a bill to Parliament, providing for an increase in excise taxes on expensive cars. It would be a kind of tax for the rich, according to the government. This step is planned to partially offset the decrease in revenues from car imports. ------08D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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