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
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review