BAKU, Azerbaijan, July 12. A total of 23,154 applications were submitted via the portal for VAT refunds on residential and non-residential properties purchased through non-cash payments as of July 1, 2025. Of these, refunds totaling 65.3 million manat ($38.4 million) were issued for 12,206 applications.
Data obtained by Trend shows that in the first half of the year, 152.4 million manat ($89.6 million) were reimbursed from the state budget to individuals and legal entities. Around 94 million manat ($55.2 million) of VAT were returned to consumers over the six-month period.
Tax revenues to the state budget via the State Tax Service under the Ministry of Economy totaled approximately 8.7 billion manat ($5.1 billion), meeting 105.7 percent of the forecast. Through the State Tax Service of the Nakhchivan Autonomous Republic, 115.8 million manat ($68.1 million) in taxes were collected. The number of active taxpayers in Nakhchivan rose by 13 percent compared to the same period last year, reaching 21,282.
In June, the consumer price index rose to 106 percent year-on-year. Prices for food, alcoholic beverages, and tobacco increased to 107 percent, non-food products to 102.8 percent, and paid services to 107.2 percent. In the first half of the year, 8 billion manat ($4.7 billion) were invested in fixed capital, down 0.5 percent compared to the same period last year.
Meanwhile, retail trade turnover reached 29.6 billion manat ($17.4 billion), including 16.2 billion manat ($9.5 billion) in food, beverages, and tobacco, and 13.3 billion manat ($7.8 billion) in non-food items from January through June 2025. During the first five months of the year, the average monthly nominal wage rose by 9.1 percent, reaching 1,095 manat ($644.1).
In the same period, nominal income across the population increased by 7.2 percent to 42.7 billion manat ($25.1 billion), averaging 4,177 manat ($5.3) per person.
Moreover, authorized banks issued 587.9 million manat ($345.8 million) in preferential loans to entrepreneurs under the guarantee of the Mortgage and Credit Guarantee Fundas of July 1, 2025. Of this amount, 38.2 million manat ($22.4 million) were provided in the first half of the year.
Additionally, 3.54 billion manat ($2 billion) were allocated for pension payments rom January through June 2025, marking a 10 percent (315 million manat ($185.2 million)) increase compared to the same period last year.
By the end of May, 200 transactions were made in Azerbaijan using UnionPay cards issued by resident financial institutions and statistical units, with a total transaction volume of 30,000 manat ($17,647 million).
Banks issued 134 million manat ($78.8 million) in consumer loans and over 8 million manat ($4.7 million) in mortgage loans monthly.
The Central Bank of Azerbaijan (CBA) addressed the strengthening of the euro, noting that the short-term depreciation of the manat’s nominal effective exchange rate may have a limited upward impact on the prices of imports from the eurozone. The CBA also identified cybersecurity violations at AtaSıgorta Open Joint Stock Company and issued a mandatory order to the OJSC.
Separately, Azerbaijan and Kazakhstan held discussions on securities registration.
