At a meeting of the Accounting Chamber of Azerbaijan on May 21 there were approved test results of targeted use of state capital investments allocated to the central office of the Ministry of Agriculture. According to Turan, the former chairman of the general public auditor and current agriculture minister Heydar Asadov asked his protégé about it.
Also, there was explained earmarked spending of Azerelektrikshebeketikinti JSC as well as in the central hospital and the department of culture and tourism in Barda. Materials on the last three items are summarized and sent to investigate not only in Parliament but also the bodies of state supervision, including the prosecutor.
The Chamber will also supervise the activities to protect the environment in Azerbaijan. This is an innovation in the ACA activities. The program of supervisory activities carried out in the Department of Environmental Protection of the Ministry of Ecology and Natural Resources.
The Accounting Chamber of Azerbaijan, as a rule, is limited to generalities about the board meeting, without giving specific figures and data. According to Article 6.0.3 of the Law of the Republic of Azerbaijan "On receiving information" ("Basic Principles of Information") , the disclosure of budget revenues and expenditures is the responsibility of government agencies , including the Chamber of Accounts. - 17D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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