Today the plenary session of the Azerbaijani Parliament discussed the draft amendments to the state budget for 2016, according to which the limit of government borrowing in the current year increased from 4 billion to 8.5 billion manat. The government will attract the domestic financial market is not 2.5 billion, and 3.5 billion manat. External borrowing could reach 5 billion manats instead of the previously approved 1.5 billion manats. This year, the public for the service of the debt obligations were planned to send 1,249,700 manats. Now for this purpose will be spent by 25% more funds - 1 billion 775 million manats. Of them one billion and 474 million manats are external debt, by 525.5 million manat more than was approved by the budget. On January 1, 2016 public external debt announced by the Ministry of Finance amounted to $ 6billion 894.3 million, or 10 billion 751 million manats. -- 08D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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