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Wednesday, 19 May 2021 02:40 GMT

Non oil, gas tax revenues up by 3.7 pct


(MENAFN - AzerNews) By Ayya Lmahamad

Azerbaijan's non-oil and gas sector provided 72.4 percent of total tax revenues in the first quarter of the year, which is by 3.7 percent more compared to the same period of last year, the country's Economy Minister Mikayil Jabbarov wrote on his official Twitter page on April 22.

The minister stated that the increase in tax revenues from the non-oil sector indicates the beginning of economic recovery.

"The positive dynamics in the non-oil and gas sector continues, and in April we expect a significant increase in comparison with the same period last year," Jabbarov added.

Earlier, the minister stated that Azerbaijan's export of non-oil products increased by 16.4 percent year-on-year in January-March 2021. Thus, the value of non-oil products export reached $501.6 million during the first quarter of the year. He underlined that the increase in non-oil products export is an indicator of the sustainability of the Azerbaijani economy, even during the pandemic. Jabbarov also emphasized that during the reported period, there was the largest volume of non-oil export compared to the same periods during the years of independence.

The minister had also announced that Azerbaijan's business environment was entering a recovery period after the coronavirus pandemic, adding that the country's business environment will be further improved.

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