By  Trend

The forecast on customs revenues of Azerbaijan’s state budget may slightly decrease in the future, Head of the Customs Tariffs Regulation Department of the Main Department of Finance, Tariffs and Currency Control of Azerbaijan’s State Customs Committee Azizaga Huseynov said.

He was speaking at a seminar titled “Azerbaijani Customs – Today’s and Tomorrow’s Challenges” on June 13.

“Increasing competitiveness of Azerbaijani products in foreign markets and increasing domestic production may result in Azerbaijan’s significantly reducing its imports, which may lead to a decrease in customs revenues of the state budget,” he said.

Azerbaijan’s State Customs Committee transferred 1.33 billion manats to the state budget in January-May 2018, which is 36 percent more than in January-May 2017.

The forecast on customs revenues of Azerbaijan’s state budget is 2.43 billion manats for 2018. As part of adjustment of parameters of the state budget, the forecast on customs revenues is planned to increase by 725 million manats to 3.155 billion manats.

(1.7 manats = $1 on June 13)