Azerbaijan raises social insurance revenues by 11%

Mobile Payment Solutions, the company behind the popular e-wallet platform Portmanat, has announced the launch of its proprietary cryptocurrency, PortCoin (PTC). This move marks Azerbaijan's increasing engagement with digital finance and blockchain technology as the country seeks to modernize its financial ecosystem.

Oil and gas revenues of Azerbaijan's state budget in 2025 are expected to amount to AZN 18,773 million, of which AZN 3,830 million should be provided at the expense of tax authorities.

In 2024, tax revenues in Azerbaijan totalled AZN 15,808 million.This was reported by the State Tax Service under the Ministry of Economy.

Since 2006, when mortgage lending by the state started in Azerbaijan, more than AZN 3.3 billion, or about USD 2 billion, has been issued to the citizens of the country until the end of 2024.This was reported by the Mortgage and Credit Guarantee Fund.