BAKU, Azerbaijan, June 27. The turnover of SMEs in Azerbaijan in 2022 increased by 19 percent (to 38.8 billion manat) compared to 2021, Minister of Economy of Azerbaijan Mikayil Jabbarov tweeted, TurkicWorld reports.

"Today celebrates the Day of Micro, Small, and Medium Enterprises. The promotion of SMEs is of great importance for the diversification of our economy and the development of the non-oil sector. From 2018 to 2021, the number of SMEs in Azerbaijan increased by 45 percent, while their contribution to non-oil GDP increased from 23.5 percent to 26.6 percent," he said.

"In 2022, tax revenues increased by 61 percent to 2.9 billion manat ($1.7 billion). We wish our entrepreneurs further success and achievements," Jabbarov said.