Over the last 10 years from the state budget of Azerbaijan were allocated for the construction sector by AZN 7 billion more than the education, health, administrative apparatus, science, social protection together, wrote on the Facebook page a well-known expert and economist Gubad Ibadoglu. In 2006-2015 from the state budget for the construction were allocated 44.6 billion manat, while for education -. 11.8 billion, social protection and welfare -. 11.1 billion, the state apparatus -. 10.1 billion, 4.7 billion healthcare.
"As can be seen, in the last 10 years, most of all oil revenues were spent on the construction sector which does not create value, and the currently decline is observed in this section. At the same time, the oil money were directed on non-commercial projects in construction," writes Ibadoglu.
Over the past 10 years the State Oil Fund received from directly from the sale of oil 125 billion manats. Of these, 90 billion manat were spent, including 67.2 billion manat as transfers to the state budget. -03D06-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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