The State Customs Committee revealed the data on the customs duties and taxes collected in December - 235 million manat. Thus, in 2016 from customs duties on import and export of goods the state budget received 2 billion 291.6 million manat.
Compared to 2015, the amount of customs duties and taxes increased by about AZN 700 million or 43.9%.
The growth of customs revenue has been marked on the background of the double devaluation of national currency and reduction of imports by 6%. In other words, SCC should not have much difficulty to exceed the annual plan.
In 2017, according to the state budget, SCC expects to collect 2.2 billion manat. --08D--
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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