Total cash receipts to banks in January-October 2013 amounted to 31.239 billion manat, which is 19.7% more than in the corresponding period last year . The largest share was provided by the sale of foreign currency - 29.4%. The share of sales of goods was 19.2%, income on loans - 8.7% , receipts at ATMs - 4.9%, income on deposit accounts - 4.8% , revenues of notarial account when buying property - 4.4%, receipts for services and work - 4.3%, etc.
According to the Azerbaijani Central Bank , the shortage of cash turnover amounted to 429 million ( 164 million manat in October). Thus, cash expenses for the reporting period amounted to 31.668 billion manat. This is 15.9 % more than in 2012 . Of the total expenditure amounted to 28.3% the cost of purchasing goods and services, 25.3 % - the costs associated with ATM cash collateral, 11.1% - the cost of buying foreign currency, 7.8% - mortgage payments, 5.5 % - notary costs accounts for property transactions , 3.2 % - payments from deposit accounts , etc.
Cash balance on the first ten months of the year amounted to 351 million manat, which corresponds to 1.1% cash generation during this time .
The average size of the daily cash receipts amounted to 103,102 manats, and the expenses - AZN 104,516. - 15B -
Economics
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In the period from January to November 2024, Azerbaijan's exports not related to oil and gas increased by 1.9% compared to the same period in 2023, reaching a total value of $3.1 billion. This growth, noted in the latest "Export Survey" published by the Center for Analysis and Communication of Economic Reforms, reflects the country's diverse and expanding export portfolio.
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In a significant step towards fostering cashless transactions, Azerbaijan has extended its innovative "Return VAT" program to include real estate purchases. Between January and November 2024, citizens recovered 160.3 million manat through the program, marking a notable milestone in the government’s efforts to promote digital payments and enhance consumer benefits.
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Entrepreneurs operating in markets across Azerbaijan will be required to register for taxation. Failure to do so will result in a financial penalty of 2,000 manat for each unregistered entrepreneur, imposed on market owners or administrators. This requirement is included in proposed amendments to the Tax Code, set to be discussed in Parliament.
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Azerbaijan’s government is open to the possibility of raising external borrowing volumes within the country’s $10 billion debt ceiling by 2030, according to an informed source in the government, speaking to Turan.
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