From January to September 2013 investments into Azerbaijan’s oil industry totaled 3,913,000,000 AZN ($5,016,000,000 at the current exchange rate), a source from the State Statistical Committee said.
They constituted 33.1% in total volume of investments into economy. Investments into the oil industry increased by 1,355,000,000 AZN against the same period last year.
During 2012 investments into the Azerbaijan oil industry totaled 3,648,000,000 AZN ($4,676,000,000 at the current exchange rate). Investments into the oil industry increased by 17% against 2011.
The investments into the oil industry have increased, because of implementation of the oil and gas projects such as Chirag Oil and Shah Deniz Phase 2. They constituted 23.8% in total volume of investment in economy of the country. –0--
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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