Azerbaijan's Economy Minister talks growth rate of non-oil sector

A significant increase in tax revenues by types of payments and directions was registered against the backdrop of positive dynamics recorded in the non-oil sector of the Azerbaijani economy from January through February 2022, compared to the same period last year, Azerbaijani Economy Minister Mikayil Jabbarov wrote on Twitter, reports.

The minister also posted a table, showing that the growth rates of tax revenues in the non-oil sector were: for VAT - by 45.4 percent per year, for excises - by 32.9 percent, for income tax - by 68 percent, for property tax - by 61.6 percent, for road tax - by 32.2 percent, for mineral extraction tax - twice, for land tax - an increase of 2.1 times.

The minister noted that growth rates were also recorded in the non-oil sector: the service sector grew by 19.6 percent over the year, the non-oil industry - by 30.8 percent, the communications sector - by 62.5 percent, trade - by 2.2 times, catering - by 3.9 times, the transport sector - 4.5 times.

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