During the first quarter of 2016 against the budget commitments for 363 million 260 thousand manats projected for this period there was collected and transferred to the state budget 416 million 920 thousand manats. On April 9, at the Cabinet meeting chaired by President Ilham Aliyev this was said by the chairman of the State Customs Committee Aydin Aliyev.
According to the head of the State Customs Committee, the forecast was exceeded by 14.7% or 53.6 million manats. Compared with the corresponding period last year, the state budget was transferred 75 million manats more.
Aydin Aliyev said the growth of customs duties and tax payments was made in the face of declining imports of goods during this period by 25%. It is necessary to take into account that the size of the payment of customs duties and taxes shall be determined in United States dollars and paid in the conversion at the exchange rate of the national currency, set by the Central Bank. Since February 2015 manats devalued twice in relation to the USD. Therefore, over-fulfillment of the targets did not cause particular difficulties for the SCC.
According to the Law "On the State Budget of Azerbaijan for 2016," for the SCC a budgetary commitment at 1.81 billion manats (+ 20%) is provided. -----08D
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review