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Azerbaijan's budget revenues rising - deputy minister

Economy Materials 6 June 2022 17:48 (UTC +04:00)
Azerbaijan's budget revenues rising - deputy minister
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 6. Revenues in Azerbaijan’s budget are notably growing due to the oil prices increase, Deputy Finance Minister Azer Bayramov said at a meeting of the Parliament’s Committee on Economic Policy, Industry and Entrepreneurship, Trend reports.

According to Bayramov, the growth tendency will continue until the end of this year.

"We make certain inflation forecasts, but its increase is largely related to imports. In connection with the reforms being carried out by the State Tax Service, we expect nominal GDP growth," Bayramov said.

At the same time, he expressed confidence that the State Tax Service will provide business entities with new cash registers.

"Implementation of this project will contribute to the creation of new tools to encourage entrepreneurship in the future," the deputy minister explained.

Bayramov stressed that the work carried out in the economic sector brings positive results.

"The ongoing work will contribute to a further increase in the budget revenues, the formation of a legislative framework, and ensuring of the transparency of doing business," he added.

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