The Ministry of Taxes transferred to the state budget 7 billion 118 million 196.6 thousand manat. This is 0.1% more than the forecast, said today the department of analytical information department.
Experts estimate that due to the fall in oil prices, the revenues from the oil sector in the past year decreased compared to the year 2014 by about 500-600 million manats. Economists note that the devaluation of the manat "offset" some of these losses. It is possible that the tax authorities have coped with the implementation of the plan due to pressures on the private sector.
The Taxes Ministry also announced the expansion of the tax base. In 2015, there were 76,877 business entities. This is 7.1% less than in 2014. The number of private companies and individuals engaged in entrepreneurial activities is not reported. -----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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