17:07 - 5.06.2025

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June 5, Fineko/abc.az. The Agency for Information & Communication Technologies (AICT) currently operates unprofitably and constantly faces financial losses.

According to ABC.AZ survey, AICT has been operating at a loss for 3 years in a row.

Thus, AICT completed the first year of its activity - 2022 with net loss of 9,000 manats. This damage mainly related to administrative expenses.

In the following 2023, Agency's financial situation worsened, and it ended the reporting year with net loss of 864,000 manats. During this period, AICT's revenues amounted to 1 million manats, and administrative expenses - 1.797 million manats. In addition, financial expenses totaled 6,000 manats, other expenses - 6,000 manats, depreciation costs - 47,000 manats and income tax - 8,000 manats.

Although the annual report for 2024 does not contain detailed information on the financial condition of the agency, it is noted that AICT’s activity was carried out at the expense of the State Budget in the amount of 2.5 million manats.

Based on the above-said information, the AICT currently does not operate profitably and continues its activities at the expense of funds allocated from the State Budget. This may be due to the fact that the agency performs mainly regulatory functions and is not engaged in commercial activities that generate income.

By Elmir Murad