According to the report of the Cabinet of Ministers, published in the run-up to its consideration by the parliament, in the past year the government received $741.1 million on the basis of three loan agreements under the state guarantees from international commercial and financial organizations
The balance is as follows: the Czech group of Societe Generale provided 458.86 million Euros, the Japanese corporation Sumitomo Mitsui Banking Corporation - 132 million Euros and the head office of Societe Generale - 85,37 million Euros.
In comparison with the funds received in 2014, it decreased by $ 237.2 million (a year ago 12 agreements for $ 978.3 million were signed previously).
In the years 1994-2015 the government received a total of $10 billion 327.5 million for the implementation of projects and programs, out of which just over two-thirds ($ 7 billion 285.8 million) was disbursed. --17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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