Mikayil Jabbarov: "Azerbaijan takes necessary measures to develop digital payments"

"Cashless settlements serve economy become transparent. Therefore, the government takes necessary measures in order to extend cashless environment, reduce cash circulation to minimum and develop digital payments," Minister of Taxes Mikayil Jabbarov said at the discussion of the Law on state budget for 2018 at the plenary meeting of the Azerbaijani parliament.

According to him, Ministry of Taxes is working on this direction jointly with relevant bodies.

"Compared to December 2017, the share of cash circulation in the money supply declined from 60.1% to 51.9% in December 2018. At the same time, number of POS-terminals dropped from 80,301 in 2016 to 67,032 as of June 1, 2019. Currently, there are 6,721,000 payment cards in the country," Jabbarov said.