By the decision of the Azerbaijani Cabinet of Ministers dated August 16, excise taxes and tariffs on gasoline were severely reduced. According to Turan was, quoting the official website of the Cabinet, reduction of excise and duty do not affect the jet kerosene. But the excise tax on each ton of motor gasoline decreased from AZN 200 up to AZN 1. At the same time, customs tariffs on gasoline with an octane rating of 92, reduced from 15% to 0%.
Both solutions will work only 60 days, and have been adopted on the basis of proposals of SOCAR, Ministry of Finances, Economic Development, Taxes, and the State Customs Committee.
According to some experts, the decision of the Cabinet may be associated with the modernization of the oil refinery named after Heydar Aliyev, which will be temporarily stopped. During this period will be needed import of gasoline. To prevent the growth of prices, tariffs are canceled excise reduces.–71D-
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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