Audit Chamber sends more materials to the parliament
The Accounting Chamber of Azerbaijan (ACA) at the meeting of February 6 discussed and approved the results of the audit of public funds management at executive power and a number of organizations Jalilabad. These include executive power, its local representative, City Central Hospital, Department of Education, Culture and Regional Finance Department.
Also conducted was an audit of financial activity of utilities in the Lenkoran, Sabirabad and Surakhani districts.
Also, they checked out the results of Goranboy District Department of State Social Protection Fund. Some materials execution control instructions sent to the Parliament. As reported in the parliament Turan, in the fight against corruption, the tendency for distribution of documents on the financial activities negligent organizations increases.
In addition, approved was the audit of public funds spent under the Health Center of Hygiene and Epidemiology of the Nakhchivan Autonomous Republic.
Accounting Chamber of Azerbaijan, reporting to the parliament, in force since December 7, 2001, as the body that controls the flow budget AR.
Executives (members of the Board, which consists of the chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is generally limited to general statements about the board meeting, without giving specific numbers and data. According to Article 6.0.3 of the Law of Azerbaijan "On receipt of information" ("The basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber. - 17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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