Auditors may get more powers in the fight against corruption
The Chamber of Audit of Azerbaijan will fight against corruption in cooperation with the Ministry of Taxes.
As journalists were told yesterday by its chairman Mr. Novruzov, the partnership will be in the framework of the joint activities of the "National Action Plan to combat corruption for 2012-2015."
Alone, it cannot cope with the law violators. The concept is the development of audit services, which is intended to increase powers of the Chamber, is being prepared. Today auditors have measures of administrative influence - February 11, 2011, amendments were made to the Administrative Code, under which the penalties for evasion of statutory audit for officials is from 300 to 600 manats, and for legal entities it varies from 1.5 thousand to 2.5 thousand manats.
The Chamber and the Ministry of Taxes have cooperated since 2004, in the course of action within the mentioned "National Plan". This cooperation is entering a new phase, Novruzov said. - 17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review