The regular meeting of the Board of the Accounting Chamber of Azerbaijan (ACA) took place. The most "loud" conclusion was made on the violations in the activity of JSC Azerenergy, where there had been a misuse of budget funds.
In particular, there was no proper justification of public investment projects, no complete information on the preparation of the investment proposal, no feasibility study and evaluation of projects, lack of expertise of the targeted use of allocated funds, and others.
In addition, it was found that the project documentation for the reconstruction of power grids was prepared on the basis of orders of contractors, and the contractors uere paid inflated sums for provided services and, in some cases contracts for works and services were concluded without the procedure of procurement.
Some objects after their completion were not taken into operation by the State Selection Committee and the cost of the work was not reflected in the financial statements.
On the basis of violations the ACA made recommendations to the JSC Azerenergy to address the shortcomings and strengthen financial discipline. --17D-
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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