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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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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