According to him, however, Azerbaijan’s economy demonstrated sustainability: “Azerbaijan’s economy increased 3.7% in 2015, non-oil sector grew 6.4%. Budgetary and fiscal measures have been taken to reduce external negative impacts on country’s economy”.
Sharifov noted the revenues of the state budget for 2016 are forecasted to make AZN 14.566 bln or 25.2% of GDP, down AZN 4.872 bln or 25.1% from 2015. Of this, AZN 6.773 bln or 46.5% will come from non-oil sector.
“Ministry of Taxes is forecasted to transfer AZN 6.602 bln, which is AZN 510 mln or 7.2% less than 2015. Of this, AZN 4,812,000,000 or 72.9% will come from non-oil sector, AZN 1,790,000,000 or 27.1% from oil sector. State Customs Committee will transfer AZN 1,590,000,000, same with 2015. Share of these transfers in non-oil GDP will make 3.8%”, the minister said.
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