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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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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