The Central Bank of Azerbaijan has announced a rate of national currency on 29 September. The course has remained unchanged - 1USD / 1,6252AZN. The growth of the dollar, which began in late May 2016, stalled in September, during the massive intervention of the Central Bank and the State Oil Fund. However, experts believe that by the end of the year the pressure on the national currency will increase again, due to the performance of companies and banks foreign liabilities. -71D-
Economics
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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The Cabinet of Ministers of Azerbaijan has announced a series of amendments to the customs duty regulations, aimed at revising tariffs related to scrap metal and waste. The changes are part of the implementation of a recent presidential decree and are set to come into effect in 60 days.
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The Agricultural Subsidy Council has announced the introduction of a new type of subsidy. According to the institution's decision, starting next year, an additional 60 manat per hectare subsidy will be provided for fields using modern irrigation systems. It is stated that subsidies for repeated crops will only apply to irrigated areas starting from 2025.
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