State Customs Committee collected over 11 months of this year 1 257.7 million manat of customs taxes and duties (+ 15.1 % per year). It's obvious that customs is tuned "to meet" the forecasts of 2013, which should by 15% ahead of last year's amount of fees.
Economists note that this year there were no special changes in the structure of imports subjected to import duties and VAT. Nevertheless, officially imports rose in value by about 19 %. This may be due to two factors, experts say: either the declared customs prices of goods or the plank of the declared amount of goods were raised.
Azerbaijan Customs realities are such that entrepreneurs are forced to declare not the entire volume of imported goods for the importer to pay certain fees. But later goods without invoices appear in retail, and the tax bodies do not lose sight of that.
Note that on the state budget for 2014 the customs are to conquer new heights and to collect 1510 million manats. - 08D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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