An official report on the development of local business in the past year has been published, prepared by the Ministry of Economy and Industry.
Last year, the number of businesses in Azerbaijan reached 614 423. Most of them are individuals engaged in business (84.6%), and the rest are legal persons, mostly LLC. The difference also increased - the number of legal entities increased by 9%, while the number of individuals increased by 12.5%.
The main part of the gross domestic product (81.9%) was developed in the private sector, while its share declined slightly - from 85% in 2013.
In industrial production (79.5%) and employment (73.4%) the private sector also leads. This is achieved due to the fact that the major government contractors create many private businesses and order the work to them. --17D-
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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