Azerbaijan reports twofold increase in state budget revenues from privatization

In January-March this year, the State Property Service under Azerbaijan’s Ministry of Economy transferred 26.5 million manats ($15.588 million) to the state budget, which is 74.4% more than in the same period last year, Report informs referring to the State Service.

According to the data, quarterly payments worth 18.6 million manats ($10.941 million) were provided through privatization (2.1 times more year-on-year), and 7.9 million manats ($4.647 million) through rent (23.4% more).

During the reporting period, the State Service held 11 privatization auctions, where blocks of shares of 2 joint-stock companies, 6 small state-owned enterprises, 1 unfinished facility and 162 vehicles were privatized. Through the auction, 6 mineral deposits were transferred to entrepreneurs for their further exploitation.

In the first quarter of this year, 631 new lease agreements were concluded. Some 150 of them are lease agreements for non-residential premises, and 481 for land plots.