The Ministry of Taxes of Azerbaijan reports that it fulfilled the forecast by 100.8% in tax collection in the first half of 2015.
The ministry transferred 3,346,307,000 Manat to the state budget. The non-oil tax rose by 11.6%, amounting to 2,289,222,000 Manat. The oil & gas tax was 1.027 billion Manat without direct transfers of the state oil company and the state oil fund. The share of oil sector in the formation of the state budget, despite the decline in oil production and lower prices for it, remains high - 68.4%.
In 2015, under the Ministry of Taxes the state budget should receive 7.112 billion Manat, of which 4.812 billion Manat regards the non-oil sector and 2.300 billion Manat regards the oil sector.
Revenues of the state budget in 2015 have been approved in the amount of 19.438 billion Manat, while the expenses are 21.100 billion Manat. -0—
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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