(MENAFN- Trend News Agency ) Details added (first version posted on 13:55)
Baku, Azerbaijan, Nov. 21
By Anvar Mammadov – Trend:
The share of tax revenues in Azerbaijan's state budget for 2018 will make 11.4 percent of the country's GDP forecast for the next year, Azerbaijani MP Ziyad Samadzade said.
Samadzade, who also chairs Azerbaijan's parliamentary committee for economic policy, industry and entrepreneurship, was speaking at a plenary session of the parliament Nov. 21.
On Nov. 21, discussions on Azerbaijan's draft state budget and the concept of socio-economic development for 2018 and the next three years started in the parliament.
Samadzade said the revenues from Azerbaijan's Ministry of Taxes are forecast at 7.907 billion manats next year.
He also noted that revenues from Azerbaijan's State Customs Committee next year are projected at 2.25 billion manats, which makes 3.24 percent of Azerbaijan's GDP forecast for the next year.
The Azerbaijani government forecasts growth of the country's real GDP at 1.5 percent in 2018. The country's GDP next year is expected to reach 69.4 billion manats. At the same time, 47.6 billion manats in Azerbaijan's GDP will account for the non-oil sector, which will grow 2.9 percent next year.
In accordance with the Azerbaijani government's forecast, 83 percent of the country's GDP will be formed in the private sector.
In 2016, Azerbaijan's GDP shrank 3.1 percent. The government expects that this year the country's economy will grow 0.3 percent and will continue to grow until 2021.
(1.7002 manats = 1 USD on Nov. 21)
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