BAKU, Azerbaijan, February 15. Reforms and support measures carried out in the non-oil and gas sector of Azerbaijan in recent years today ensure stable economic growth, Azerbaijan's Acting Minister of Economy Mikayil Jabbarov said, Trend reports.
He made the remark during the forum themed "Tax system in the new period of development: strategic goals for a sustainable economy" held in Baku.
“Our state demonstrates an adequate response to global concerns. The impact on nominal GDP was natural and expected, given our country's projected loss in oil and gas production and dropping global market prices. However, we were prepared for the process. In 2023, the non-oil and gas sector's growth rate was 3.7 percent," he noted.
To note, the forum discussed new challenges in the field of tax administration. The forum exchanged views on the increasing role of tax authorities in economic regulation, priorities of business environment development, active participation of entrepreneurs in the formation of budget revenues, and building transparent relations between the state and businesses.
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