The Accounting Chamber of Azerbaijan (ACA), on July 1 meeting discussed the level of budget funds allocated for the reconstruction of the metal bridge on the highway Saatly - Musala - Mezreli over the Araz River.
The Board also discussed the audit program expenditure of government funds allocated to local representations of Azeryolservis in Siyazan and Gusar. Also discussed were prediction and the use of budget funds allocated for the use of land owned by the state in the Oguz and Tartar districts.
The subject of the audit was costs of municipal services in the Ujar and Gakh districts, departments of the Ministry of Ecology and Natural Resources. For a number of shortcomings the evidence was sent to the Parliament.
Accounting Chamber of Azerbaijan, reporting to the parliament, has been in force since December 7, 2001, as the body that controls the flow of the budget of AR. Leading employees (members of the Board, which consists of a chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is usually limited to general statements about the board meeting, without giving specific figures and data. According to Article 6.0.3 of the Law of Azerbaijan "On receiving information" ("Basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 17D-
Economics
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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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BAKU, Sept 10 (Reuters) – The "Chain Reaction 2024" conference commenced in Baku on September 10, bringing together leaders and innovators from across the technology sector. Organized by FARI Solutions in collaboration with the Center for Analysis and Coordination of the Fourth Industrial Revolution and the Innovation and Digital Development Agency, the event is supported by Binance, the world's largest cryptocurrency exchange.
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The Azerbaijani government has amended its financing mechanism for higher education institutions, according to a decree issued by Prime Minister Ali Asadov on September 6. The changes update annual education costs for students in various academic levels and fields, including bachelor’s, master’s, medical, and doctoral programs, under state orders.
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