National wealth should be accountable - that is the keynote of the meeting of the "round table" on "Control of oil revenues", organized by the Center for Economic Research (CER) with the support of Revenue Watch Institute, USA.
According to Chairman of the CER Ghalib Togrul, discussions were held with the participation of experts from four universities (University of Economics, "Gafgaz", "Khazar" and "Azerbaijan"), 2 youth organizations and representatives located in Baku, the foreign diplomatic corps.
Togrul believes that the project will enable the public to better understand the concept of "Azerbaijan 2020: vision of the future" (http://physics.gov.az/future_ru.pdf).
The program manager of the local office of Revenue Watch Institute Fidan Baghirova also reported that limited non-renewable hydrocarbon resources will not last forever, and proceeds from the sale must be used rationally.
Doctor of Economic Sciences Gubad Ibadoglu reported that as of January 1, 2013 the State Oil Fund's assets were $ 34.2 billion, although it could be $ 49.7 billion more. That is, it turns out that 59.3% of oil accumulations have been spent on investment projects. He called on the Azerbaijani government to find and make public a reasonable balanced model of expenditures of the national heritage. - 17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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