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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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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