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Azerbaijan’s Economy Minister: 50% of state budget revenues have beenobtained from non-oil sector

10 February 2023 12:06 (UTC +04:00)

“Tax collection is a business success of an entrepreneur,” said Minister of Economy Mikayil Jabbarov at the conference “Heydar Aliyev and the tax system of Azerbaijan: towards new challenges”, APA-Economics reports.

According to him, if there is no equal treatment of the tax system, it is an approach that destructs the root of the economy.

“The most important feature of 2022 is that despite the positive dynamics of oil and gas prices, 50% of the state budget revenues came from the non-oil sector. The second is a continuation of growth trajectory of the non-oil export. We are still far away from any absolute figure. We have surpassed USD 3 bln. However, it is not a big figure in comparison with our total export. At the same time when looking at the dynamic, we speak about USD 1.7 bln. three years ago. Our target is to continue with high speed. The fact that we pay more attention to the export of services from here is reflected in our respective economic policy,” added the minister.