Azerbaijani MP: Next year’s budget revenues to be higher than planned

The performance indicators of state budget revenues in Azerbaijan for January-October of this year give grounds to say that budget revenues next year will be higher than planned, Chairman of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship Tahir Mirkishili said at today’s plenary session of the Parliament, Report informs.

“The presented project provides for budget revenues for 2023 in the amount of 30.720 billion manats ($18.070 billion), that is, 1.522 billion manats ($895.294 million) more than in 2022. About half of the growth comes from the non-oil and gas sector, the other half from the oil and gas sector. We consider it acceptable to plan deductions from tax and customs authorities in the amount of more than 1.807 billion manats ($1.062 billion), which is facilitated by the transparency of the business environment in the country, the growth of trust between the state and the entrepreneur, as well as the growth of inflation and imports,” he said.

“The main reason for the growth of budget revenues from the oil sector was the planning of a tax on profits from the export of natural gas from the Shah Deniz field in the amount of 2.875 billion manats ($1.691 billion, an increase of 700 million manats ($411.764 million)),” Mirkishili said.