In May this year, the State Customs Committee (SCC) provided the transfer by participants of foreign trade operations of 141 million 822.4 thousand manat to the state budget, about as much as in the previous month.
As the experience of previous years shows, the State Customs Committee under any circumstances performs the staged plan for the collection of customs duties and taxes. In many cases, the amount of funds raised by months is different from each other only slightly, despite the differences in the types of taxes. Apparently, this year from April, the customs officials switched to "one note" - 141 million manats per month.
According to the SCC, in just five months of this year, the Customs provided transfer to the state budget of 625 million manats, which is 4.6% more than in the comparable period of 2014. It is noteworthy that the growth rate of imports, the main source of customs revenue, for four months was 24%. In other words, there is potential to increase revenue to the state budget.
In 2015, the SCC is scheduled to transfer 1,590 million mantas to the state budget. ----08D
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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