BAKU, Azerbaijan, May 1. The State Service for Property Issues under the Ministry of Economy of Azerbaijan reported a revenue of 92.3 million manat ($54.2 million) for 2024.
Data obtained by Trend from the State Service indicates that this represents a 7.2 percent increase, or around 6.2 million manat ($3.6 million), compared to the same period last year. In the previous year, the service's revenue was 86.1 million manat ($50.6 million).
During this period, the service's expenses amounted to 95.8 million manat ($56.3 million), which reflects a 9.5 percent increase, or 8.3 million manat ($4.8 million), from the prior year. In 2023, the figure stood at 87.5 million manat ($51.4 million).
The service’s revenue sources included non-stock exchange operations, which contributed over 80.5 million manat ($47.3 million), stock exchange operations, contributing approximately 11.7 million manat ($6.8 million), and other operational revenues totaling around 366 manat ($215.2).
The expenses were broken down as follows: salary expenses and state social insurance contributions accounted for over 22.7 million manat ($13.3 million), the cost of materials was about 2 million manat ($1.1 million), depreciation expenses reached nearly 1.84 million manat ($1 million), and other operational expenses amounted to over 69.2 million manat ($40.7 million).
