In January of this year, the government cut the financing of investment projects. By the order of the President the building of only the most important objects for the economy and social life will be continued.
According to the State Statistics Committee, the state budget spent 130.6 million manat to finance projects of transport, education, health, etc. This is 57.1% less than in January 2014. For example, for the construction of public administration, defense and social security 4.9 million manat was spent from the budget, which is only 5% of the size of government allocations for this area in January last year.
This year, the state budget will spend 6.93 billion manat on public investment. But it is expected that the government will undertake the budget sequestration, reducing both its revenue and expenditure part due to the decline in oil revenues. -----08B
Economics
-
Azerbaijani state power company Azerenerji, SOCAR Trading, and Italy's Ansaldo Energia have signed a trilateral agreement on carbon credits, Azerenerji announced on Friday.
-
The SOCAR-UNIPER joint venture inaugurated a 65 MW steam generator unit at the "Ethylene-Polyethylene" plant on Friday as part of activities held during COP 29. The project, aimed at boosting energy efficiency, is a significant milestone for the joint efforts of SOCAR and UNIPER in Azerbaijan’s chemical industry.
-
French energy giant TotalEnergies is considering participation in solar and wind power projects in the Nakhchivan Autonomous Republic of Azerbaijan, a move discussed during talks in Baku on November 15 between TotalEnergies CEO Patrick Pouyanné and Azerbaijani government officials.
-
Azerbaijan's Ministry of Energy, China Energy Overseas Investment Co. Ltd., and SOCAR Green LLC have signed an agreement to implement a 160 MW solar power project in the Fizuli district, Economy Minister Mikayil Jabbarov announced on social media on Wednesday.
Leave a review