On Wednesday hte Parliament began consideration of Azerbaijan's state budget for next year.
According to Deputy Economy Minister Sevinj Hasanova, the government is considering a further increase in customs duties. "The decision was taken in order to protect domestic production and market," she said.
Under the law, the Cabinet of Ministers makes a verdict on the basis of monitoring and the final decision is taken by the head of state.
Recall from November 1, tariffs increased for 2 years on imports of certain agricultural products, building materials and non-alcoholic beverages, which affected the purchasing power of consumers. As a result, prices rose also for goods produced in Azerbaijan. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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