During the first 11 months of 2016 the volume of GDP in Azerbaijan amounted to 54 billion 433.1 million manat, in constant prices by 3.9% less than in the same period last year, according to SSC on 14 December.
The reason for the decline of the economy is the decline in production in the construction sector by 27.9%, the SSC report emphasizes. The share of the construction sector in GDP structure was 10.3%.
The industrial sector produced 37.5% of GDP, trade and repair of motor vehicles - 10.7%, agriculture - 5.4%, tourism and food industry - 2.5%, transport and warehousing sector - 6.7%, etc.
GDP per capita was AZN 5,649.90.
The government forecasts real GDP growth in Azerbaijan in 2017 at the level of 1%. ------08B
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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