Nearly three-quarters of tax revenue provided by private sector

The share of private sector in GDP declined from the beginning of the year by 2.5% and amounted to 82.5% on July 1.

According to the Ministry of Economy and Industry of the pace of development of entrepreneurship, the private sector has provided for the period 72.4% of tax revenues to the state budget (3 billion 578,600,000 manat), and its share in industrial production amounted to 80.3%. In addition, nearly three-quarters (73.9%) of the employment are on account of the private sector. Note that in Azerbaijan the privates also include all the major corporations in oil and gas, including BP.

Recall that as of 1 July, the number of business entities (potential employers), regardless of the form of ownership was 579,002 units. More than a third (37.4%) of entrepreneurs is concentrated in Baku, while the others are in the regions.

Most of them (84.3%) are individual entrepreneurs with the status of an individual. --17D-

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