Budget Deficit Passed Over One Billion

Uzbekneftegaz, the state oil and gas company of Uzbekistan, is close to concluding an agreement to acquire a stake in the Shah Deniz gas condensate project on the Azerbaijani shelf of the Caspian Sea, Minister of Investment, Industry and Trade of Uzbekistan Laziz Kudratov said at the II Azerbaijan-Uzbekistan Interregional Forum on May 21.

In a step to bolster bilateral relations, Azerbaijan and Uzbekistan have signed a roadmap to prepare for the upcoming state visit of Azerbaijani President Ilham Aliyev to Uzbekistan, scheduled for August. The agreement was signed during the II Azerbaijan-Uzbekistan Interregional Business Forum held in Guba, Azerbaijan, by Azerbaijani Economy Minister Mikail Jabbarov and Uzbek Minister of Investment, Industry and Trade Laziz Kudratov.

The Central Bank of Azerbaijan (CBA) has taken significant steps to ensure compliance with laws on combating illegal financing by imposing fines on two non-bank credit institutions, Finca Azerbaijan and PSG Finance, for violations of financial legislation. This action underscores the Central Bank's continued commitment to combating money laundering and terrorist financing in the country.

The II Azerbaijan-Uzbekistan Interregional Forum commenced today in Guba, Azerbaijan, aiming to explore and expand cooperation across various sectors between the regions of the two countries. Organized by the Export and Investment Promotion Agency (AZPROMO) and supported by the Ministry of Economy of Azerbaijan and the Ministry of Investment, Industry, and Trade of Uzbekistan, this forum stands as a pivotal event for bolstering regional ties.