How many government facilities will be covered by debt write-off in Azerbaijan? (PHOTO)

Baku, Azerbaijan, April 15

Trend:

The write-off of debts of privatized state-owned facilities in Azerbaijan will cover 140 enterprises, Trend reports referring to the State Property Issues Committee.

The write-off will affect the debts on taxes on property and land as of March 1. A total of 12 million manats’ worth of debts will be written off.

The issue was discussed at an expanded meeting of the committee on the work done during the 1st quarter and the committee’s future tasks.

It was noted during the meeting that the law on the regulation of debts on property and land taxes available to the state property (enterprises) privatized in Azerbaijan as of March 1, 2019, signed by President of Azerbaijan Ilham Aliyev on March 5, 2019, is one of the most significant reformist steps taken this year.

The law is aimed at improving the privatized state-owned enterprises and settling their debts.

($1=1.7 AZN on April 15)