In October 2023, the State Tax Service under the Ministry of Economy transferred 1,782.8 million manats to the state budget. According to the information published by the department, this is down by 49.75%, or about 2 times from October 2022.
Add that 961.6 million manats of monthly tax revenues accounted for the non-oil and gas sector. This is up by 13.6% from a year ago. In January-October this year, tax revenues in Azerbaijan amounted to 4.25% more than a year earlier - 14,593.5 million manats, including tax revenues from the non-oil and gas sector - by 19.2%, 8,387.4 million manats.
Finance
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The analysis shows that the economic growth in Azerbaijan in 2026-2028 will be fully ensured at the expense of the non-oil and gas sector.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In January-August 2024, two state financial institutions of Azerbaijan jointly paid dividends in the amount of AZN 169.9 million, or about $100 million. This is stated in the conclusion of the Accounting Chamber over the Draft Law ‘’On State Budget for 2024‘’.
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President Ilham Aliyev's decree of 28 March 2022 ‘On Approval of the Upper Limit of Ratio of Non-oil Base Budget Deficit to Non-oil Gross Domestic Product (GDP)’ is not honoured.This is stated in the conclusion of the Accounting Chamber on the Draft Law ‘On State Budget for 2025’.
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In 2025, the subsistence minimum in Azerbaijan will amount to AZN 305 for able-bodied population, AZN 232 for pensioners and AZN 246 for children. This is stated in the Draft Law ‘On Subsistence Minimum for 2025’.
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