By February 1, revenues to the state budget amounted to 1 billion 349.6 million manat (minus 19.9% to January last year) and expenditures were at AZN 516.4 million (the Ministry of Finance financed 60% less).
Revenues from value-added tax were at the level of AZN 361.3 million (26.8% of the revenue), income tax - 172.7 million manat (12.8%), on income tax -.144 700 000 manat (10.7%). Tax departments also provided 39.5 million AZN under the simplified tax collection from individuals and 38.9 million AZN of excise taxes. The number of transfers from the State Oil Fund is not listed.
According to the law "On the state budget of Azerbaijan Republic for 2016", the profit part to be performed by the end of December should be 16 billion 822 million manat and the expenditures should be 18 billion 495 million manat with a deficit of 1 billion 673 million manat. --17D-
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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