Nakhchivan 2024 budget revenues forecast to exceed $100M

In 2024, the revenues of the state budget of the Nakhchivan Autonomous Republic are forecast to be 173.1 million manats ($101.68 million), 13.7% more than in 2023, Report informs, citing the Cabinet of Ministers.

According to the information, the Prime Minister of the autonomous republic, Sabuhi Mammadov, participated in the next plenary meeting held in the parliament regarding the discussion of the 2024 state budget and the documents included in the budget package. The head of government said that value-added tax (30.4%), personal income tax (24.6%), excise tax (29.1%), and other taxes (15.9%) will make up the main portion of the budget revenues.