State budget transfers from non-oil sector exceed AZN 4B

Baku. 28 November. REPORT.AZ/ In January-October 2018, non-oil sector of the economy grew by 1%, Report informs citing the Ministry of Taxes.

"Stimulating and incentive policy played an important role in making investments in this field. At the same time, making concessions to local producers and exporters led to an increase in production and export in non-oil sector. During the ten months of 2018, more than AZN 3 million was paid to entrepreneurs and this plays an important role as a stimulating tool," the ministry said.

Development of the non-oil sector also caused an increase in the tax receipts. In the structure of the budget transfers made during the reporting period, 25.1% came from the state, 74.9% from the non-state sector. AZN 4,063,100,000 was transferred from the non-oil sector. Taxpayers in the non-state section of the non-oil sector transferred AZN 3,004,500,000.