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MP: Budget revenues from advertising can be 450-500M manats

27 June 2017 [12:34] - TODAY.AZ

By Azernews


By Sara Israfilbayova

The Parliament’s [Milli Majlis] Committee on Economic Policy, Industry and Entrepreneurship discussed amendments to the laws "On Advertising" and "On State Duty".

The authors of the amendments are members of the committee Vahid Ahmadov and Ali Masimli.

Ahmadov noted that the proposed amendments to the laws "On Advertising" and "On State Duty" are connected with the creation of the State Advertising Agency, which will contribute to the development of the advertising market in the country.

He said that the state budget annually receives about 55 million manats [$32.3 million], but this figure can be 10 times higher, further adding that transfers to the budget from advertising can be equal to 450-500 million manats [$264.4-$293.7 million].

President Ilham Aliyev signed a decree on June 20 on establishment of a State Advertising Agency.

Under the decree, in order to place advertising media in the open space in the territory of the country, control and unify regulation in the sphere of production and distribution of advertising intended for placement in the open space, a public legal entity "State Advertising Agency of Azerbaijan" is created.

The head of state appointed Aydin Ibadov as a director of the newly created State Advertising Agency.

URL: http://www.today.az/news/business/162638.html

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