In 2015, the tax revenues of the state budget from regions of the country amounted to 622.1 million manats. This was said by the Minister of Taxes Fazil Mammadov at the 26 January meeting of the panel on tax issues in the framework of a conference on the implementation of the state program of development of regions.
The share of regions in tax revenues in 2015 amounted to 8.7%.
Last year, tax revenues from the regions increased compared to the year 2014 by 8.6%.
It should be noted that in 2013 taxes totaling 539 million manats were formed in the regions.
The outlook for 2016 is not reported. ----08D
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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