Along with the economic growth factor, ensuring transparency and whitening the economy also provides measurable fiscal results. This is what the head of staff of the Ministry of Economy, Alvin Jamalov, said at the meeting of the Milli Majlis Committee for Economic Policy, Industry and Entrepreneurship, dedicated to the first reading of the bill "On the State Budget of the Republic of Azerbaijan for 2027".
According to him, for 9 months of this year, the forecast for tax revenues was fulfilled by 107.2%, including in the area other than oil and gas - by 102.9%, 80.6% of the annual forecast has already been achieved. Tax revenues increased by 9.4%, and in the non-oil and gas sector - by 12.6%, which exceeds the nominal growth rate of non-oil and gas GDP (7.6%). 75% of revenues from the non-oil and gas sector come from the private sector. The share of tax revenues from the non-oil and gas sector in the non-oil and gas revenues of the state budget exceeded 63%. Mandatory state social insurance increased by 8.5%, 5 billion ₼ was collected for this type of payments, the forecast was fulfilled by 105.6%. According to the head of the administration, the constant growth of the National Insurance revenues in recent years, as part of the labor market bleaching, makes a significant contribution to strengthening the financial sustainability of the state social protection fund. Thus, the share of budgetary transfers in the income of the state social protection fund decreased from 36% in 2018 to 20% in the first 9 months of the year. "One of the most reliable indicators of the "laundering" process in the economy is the number of taxpayers and registered objects. Since 2018, the number of active taxpayers has doubled, the number of VAT payers has increased 3.5 times, the number of active business entities has increased 1.7 times. This process continues this year as well," noted Alvin Jamalov.