Azerbaijani Parliament Approves Tax Code Amendments to Boost Industry, Culture, and Renewable Energy

Azerbaijan’s state budget revenues reached AZN 34.06 billion ($20 billion) in January-November 2024, marking a 14.9% year-on-year increase, according to data released by the State Statistics Committee.

The Ministry of Energy of Azerbaijan has approved its 2025 work plan following a meeting held in hybrid format under the chairmanship of Minister Parviz Shahbazov. The session, which reviewed 2024’s achievements, underscored Azerbaijan’s growing role in the global energy sector and its domestic advancements in renewable energy.

Azerbaijan's nominal incomes rose by 6.3% year-on-year to 74.67 billion manats ($43.9 billion) in the first 11 months of this year, underscoring steady economic growth and improving household earnings, according to data released by the State Statistics Committee.

The cost of preparing a traditional New Year's feast in Azerbaijan will rise by 6% this year, reflecting broader inflationary trends in food prices, according to monitoring conducted by the Turan agency. The analysis, based on a consumer basket of 30 essential food items, underscores notable price increases for vegetables, meats, and dairy products over the past year.