In the first half of 2016 the non-oil-gas sector provided 2 billion 495.4 million AZN to the state budget, which is 78.2% of the tax revenues for the period.
According to the Ministry of Taxes, compared to the same period in 2015, tax revenues from the non-oil-gas sector increased by 215.1 million AZN or 9.7%.
During this period the tax revenues to the state budget from the non-state sector totaled 2 billion 261.1 million AZN. This corresponds to 70.9% of tax revenues in the first half.
The proportion of the regions (275 300 000 AZN) was 8.6% in tax payments.
In general, the Ministry of Taxes provided to the state budget 3 billion 190.1 million AZN, up 2% from the forecast.
In the first half of 2016 the total number of tax audits decreased 2.8 times. -----08D
Economics
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According to data released by the State Statistics Committee, Azerbaijan’s agricultural sector achieved slight production growth in the first eight months of 2024. The total volume of agricultural production reached 8.723 billion manats, which is 0.8% higher than during the same period last year. However, this growth occurs against a backdrop of increasing food imports, despite significant government subsidies aimed at supporting domestic agriculture.
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Azerbaijan has unveiled strong fiscal indicators for the first eight months of the current year, reporting a state budget surplus that underscores the country’s economic resilience amidst global uncertainties. According to operational data released by the Ministry of Finance, state budget revenues from January to August 2024 reached 25 billion 223.4 million manats, while expenditures amounted to 22 billion 362.4 million manats.
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Azerbaijan has made significant progress in diversifying its energy balance, with renewable sources playing an increasingly important role in the country's electricity production. Operational data for January-August 2024 show that total electricity generation reached 19,235.4 million kilowatt-hours (kWh), marking a noticeable shift towards greener energy.
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Bilateral relations between Azerbaijan and Russia are accelerating, particularly in the agricultural sector, as Deputy Prime Minister Shahin Mustafayev and Russia’s Minister of Agriculture Oksana Lut underscored during their high-level meeting on September 13 in Baku.
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