The Ministry of Finance of Azerbaijan has published the final report (http://maliyye.gov.az/sites/default/files/2015%20hesabat.pdf) on the execution of the state budget for 2015. According to official data, the state budget revenues, when executed by 90%, amounted to 19 billion 438 million AZN (minus 4.9% to 2014).
Of these, 46.5% or 8.13 billion AZN was the share of transfers from the State Oil Fund, 40.7%, or 7 billion 118.3 million AZN was received through the Ministry of Taxes, 9.1% or 1 billion 591.9 million AZN - through the State Customs Committee, and the remaining 657.8 million AZN came to the treasury from other sources, including the budgetary organizations. --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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