From 2003 to 2015 transfers from Oil Fund to state budget exceeded 61 billion AZN
From 2003 till October 1, 2015 total amount of transfers from the SOFAZ to the state budget titaled 61,422,000,000 AZN.
Accroding to SOFAZ, during 9 months, 2015 total amount of transfers from the Fund to the budget totaled 5,650,000,000 AZN.
The State Oil Fund started transfers to the state budget of Azerbaijan in 2003.
Table of transfers from Oil Fund to state budget
years | Transfers in million AZN |
2003 | 100 |
2004 | 130 |
2005 | 150 |
2006 | 585 |
2007 | 585 |
2008 | 3 800 |
2009 | 4 915 |
2010 | 5 915 |
2011 | 9 000 |
2012 | 9 905 |
2013 | 11 350 |
2014 | 9 337 |
2015-forecast | 8 000 |
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Economics
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
Azərbaycan və Ermənistan liderlərinin görüşü niyə baş tutmadı? – İlham İsmayıl Çətin sualda
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