The forecast of the oil export price, on which the state budget of Azerbaijan for fiscal year 2014 will be based, will be reduced.
Turan reported that yesterday the experts of the Oil Fund and the Ministry of Economic Development discussed initial variant of average annual export price of Azerbaijani oil. Considering various tendencies in the world economy, it was proposed to draw the initial variant of state budget for fiscal year 2014 with oil price of $90.00 per barrel.
The final variant of the basic data of the budget will be discussed in mid-August 2013.
For two years running the state budget had a forecast of oil price of $100 per barrel.-0-
Economics
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Azerbaijan's Small and Medium Business Development Agency (SME) and the Iraqi Federation of Chambers of Commerce have formalized a significant step towards enhancing bilateral economic ties with the establishment of the Azerbaijan-Iraq Business Council. The agreement, signed by Orkhan Mammadov, Chairman of the Board of Directors of SME, and Abdulrazag Al-Zuheir, President of the Iraqi Federation of Chambers of Commerce, comes within the framework of the Azerbaijan-Iraq Business Forum.
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Azerbaijan officially presented the updated digital government platform "myGov" at an event on September 17 in Baku, marking a significant step in the country's digital transformation. The event was attended by government officials, private sector leaders, media representatives, and industry experts.
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Minister of Economy Mikail Jabbarov held a meeting with the World Bank's Regional Director for Sustainable Development for Europe and Central Asia, Sameh Naquib Vahba, to review the ongoing and potential areas of collaboration between Azerbaijan and the World Bank. Both sides expressed their satisfaction with the progress made in joint projects aimed at boosting economic diversification and infrastructure development in Azerbaijan.
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Azerbaijan officially presented the updated MyGov digital government platform today in the capital city of Baku, marking a significant milestone in the nation’s ongoing digital transformation.
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