Credit organizations of Azerbaijan met in April 2012 1,996,000 payment orders totaling 9,612 million manat. The number of payments increased 33,000, and their total turnover increased compared with the previous month by 449 million manat.
Compared with the corresponding period last year, the number of payments in January-April increased 3,940,000 or 92.6% to 8,194,000, and their volume increased by 6,693 million manat or 23.3% to 35,319 million manat.
In the structure of payments in January-April, the share of large and urgent payments was 3.3% (129,000) of their total number and 91.3% (32,245 manat) of the total value. The average size of payments in this category increased in comparison with April 2011 by 5% to 213,100 manat, and small and medium size retail payments increased 9.3% to 446.5 manat.
As of May 1, 2012 the payment system users were 54 organizations, 50 of which could carry large and urgent payments. - 15B -
Economics
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Azerbaijan’s State Tax Service is grappling with technical issues on its online portal, e-taxes.gov.az, preventing the submission of mandatory social insurance and health insurance tax declarations. The problem has emerged at a critical time, as the 20-day quarterly period for submitting declarations began on October 1.
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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