In October of this year the State Customs Committee (SCC) transferred AZN 107 mln to the state budget. Over the past four months the customs stabilized the collection of customs duties and taxes at the level of AZN 107 million - in such a pace they can perform the annual plan.
In SCC they told Turan that for ten months of 2012 they collected taxes and fees for a total of 987.8 million manats. This year it is projected to collect 1.2 bn. Summary of the fees account for the VAT. In October, its share in the customs duties was 85%.
In 2011, the SCC contribution to the state budget amounted to 1,141 mln. Next year, according to the draft of the state budget, the SCC will collect 1,380 mln. -08b-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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