The plan for the implementation of the law on the State Budget for 2012 was exceeded, according to the government.
According to the deputies and reporters today in the Parliamentary Committee on Economic Policy, Finance Minister Samir Sharifov, budget execution has led to an actual surplus of 2.3 bn at the forecast 938 million, that is left untapped 1 billion 362 million manats.
Real economic growth in the last year was 2.2%, the average wage - 8.7% (396 manat per month), annual spending per capita - 3.8 manats. Azerbaijan's strategic currency reserves reached $ 46.5 billion (+14% yoy). - 17D-
Economics
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In 2024, Azerbaijan witnessed significant growth among rapidly expanding enterprises, particularly in the booming non-oil sector. As the government prioritizes economic diversification, companies in industries such as mining, logistics, agriculture, and manufacturing have emerged as key drivers of economic progress.
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Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.
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The Azerbaijan Land Transport Agency (AYNA) has reduced the average age of taxis from 15 to 7 years in 2024 as part of comprehensive transport reforms aimed at enhancing safety, sustainability, and service quality.
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Azerbaijan's State Special Communication and Information Security Service (SSCISS) has reported vulnerabilities in the security systems of 857 information resources across state institutions in 2024, marking a 23% increase compared to 2023, according to official data released this week.
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