"Azerbaijan should find options to create more favorable conditions for business activity, and the World Bank is ready to assist the country needed help for a timely response to these challenges," said the head of the local representation of the WB Larisa Leshchenko on today's presentation "Amendments a methodology for the development of the report Doing Business" for government agencies.
According to her, the challenges faced by the official Baku are not unique, as they are faced by all countries with natural resources, because the receipt of oil revenues through exports does not "have to wrestle with." "In Azerbaijan there are areas that will take time to solve existing problems, and our experts will offer their own versions of solutions for the development of private enterprise. In particular it is necessary to remove barriers to the development of the private sector and reduce dependence on oil revenues," she believes.
The head manager believes that in the last 4-5 years the private sector in Azerbaijan is funded mainly at the expense of public funds, but it is time to reform the system and to ensure not only self-financing, but also the financing of public projects at the expense of the private sector. --17D-
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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