In May of this year the State Customs Committee transferred 206.2 million manat to the state budget, which is 21.1 million manat less than in April, when a record index was achieved for the whole history of this department’s activities.
According to the State Customs Committee’s information, in the first five months in 2016 they collected 850,500,000 manats, which is 36% higher than in the comparable period last year.
This year, the SCC plan to transfer customs duties and taxes (1 billion 810 million AZN) to the state budget has increased by 13.8%.
Despite the decline in the volume of imports of goods, the customs officials cope with the plan. Firstly, this is due to the devaluation of the manat, and secondly, due to the elimination of monopoly on the importation of goods from this year on and declaring goods not at lowered prices, but at prices specified in the contracts. --- 08B
Economics
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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