BAKU, Azerbaijan, Feb. 11
By Zeyni Jafarov - Trend:
The State Tax Service under the Ministry of Economy of Azerbaijan transferred over 7.38 billion manat ($4.34 billion) to the country’s state budget during 2020, Trend reports referring to the report of the Ministry of Finance of Azerbaijan.
This volume of transfers exceeded the forecasted figure by 2.7 percent, or 197.2 million manat ($116 million), said the report.
Of the specified volume, 75.6 percent, or 5.58 billion manat ($3.28 million) fell to the share of receipts from the non-oil sector, which in turn is 3.4 percent, or 185.1 million manat ($108 million) less than the projected volume.
According to the report, the income of the State Tax Service in 2020 increased by 2.8 percent or 153.1 million manat ($90 million), compared to 2019.
Earlier, Minister of Economy of Azerbaijan Mikayil Jabbarov said that the volume of receipts in the non-oil sector in 2020 is the highest indicator, adding that the share of the non-oil sector in Azerbaijan's GDP exceeded 70 percent, and in accordance with the instructions of the head of state, measures are being continued to diversify the Azerbaijani economy.
(1 USD = 1.7 manat on Feb. 11)
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