The process of predicting the state budget for 2016, and the Accounting Chamber of Azerbaijan also joined it. According to the Chairman Vugar Gulmammadov, the structure led by him has its own vision of optimizing the basic law for the completion of "people's piggy bank." "All recommendations provide for effective and economical use of public funds. We offer optimization of public debt management and reduction of transfer to the state budget from the State Oil Fund," he said. According to the law, the draft law on state budget for 2016 is to be submitted to the Cabinet of Ministers to 15 September. The Ministry of Finance after the parliamentary elections in November will send a document for discussion by deputies. --17D-
Economics
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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