Minister: Tax revenues to state budget equal $6.1bn

By Azernews

By Ayya Lmahamad

The tax revenues to the state budget equaled AZN10.4 billion ($6.1bn) in January-September 2022, Azerbaijan's Economy Minister Mikayil Jabbarov said, Azernews reports.

He added that this amount is AZN4bn ($2.4bn) or 64.5 percent more than during the relevant period of 2021.

"In January-September of 2022, the tax revenues to the #statebudget equaled 10,451.4 mln. ?. The amount is 4,097.0 mln. ? or 64.5% more than that of the relevant period of 2021. The dynamics in the #taxrevenues is the result of the #economic restoration and transparency in the economy," the minister tweeted.

In another post, Mikayil Jabbarov noted that the tax revenues from the non-oil and gas sector amounted to AZN6.2 billion ($3.6bn), which is an increase of 32.2 percent compared to the same period last year.

"In the 9 months of this year, the #taxrevenues from the #nonoil and gas sector amounted to 6,222.0 mln. ?, whilst increasing by 1,515.3 mln. ? or 32.2%, compared to the same period last year. Compared to the relevant period of 2021, the growth in the non-oil-gas sector has reached 139.1% in transport, 66.8% in trade, 45.8% in #agriculture, 19.7% in industry, 17.1% in services, 16.8% in construction, 14% in banking and insurance, 6.7% in communications and 20.7% in other fields," he tweeted.

Additionally, the minister also stated that interest subsidies of AZN66.6 million ($39.1bn) were allocated to entrepreneurs for 5,009 loans.

"As of October 1, 2022, under the interest #subsidy mechanism for existing loans, decisions were made on granting interest subsidies of 70.4 mln. ? to 5,035 applications with a #loan balance of 858.4 mln. ?. Interest subsidies of 66.6 mln. ? were allocated to #entrepreneur-s for 5,009 loans," Mikayil Jabbarov tweeted.