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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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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