. In 2015, total revenues in 1,607 municipalities in Azerbaijan amounted to AZN 30.8 million, down compared to the previous year by 37.2%, the State Statistics Committee told Turan.
The sources of income are a land tax for individuals – 5,281.3 thousand manat, property tax on individuals – 5,928.3 thousand manats, etc. In general, taxes account for 37.6% of their annual income.
In 2015, revenues in the budgets of municipalities on land sales decreased by 3 times and amounted to 6.7 million manats. In addition, the lease of municipal property and land brought 3.6 million manats.
In 2015, the revenues of 53 Baku municipalities were 8.4 million AZN (14.3%), and the revenues of the 15 municipalities of the Absheron district were 5.3 million manat (-60.6%).
Municipalities spent mainly on running their management (54.9%), housing and communal services (23.3%), roads (9%), etc.
Municipalities in Azerbaijan almost do not play a role in local government. In 2015, their total expenditure amounted to only 0.16% of Azerbaijan's state budget expenses. –0--
Economics
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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.
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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.
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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.
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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.
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