The Ministry of Finance reported on the budget expenditures on social infrastructure and the implementation of several projects.
Thus, according to Deputy Finance Minister Azer Bayramov at the parliamentary committee discussion of the economic policy bill "On execution of the state budget for 2014", for the construction and reconstruction of social infrastructure facilities 2 billion 783 million manat was allocated.
"The construction and reconstruction of infrastructure in the field of energy, gas, water, transport and public services was allocated 2 billion 495 million manat," he said.
In addition, the investment projects in the Nakhchivan autonomous republic were allocated 52 million manat from the state budget last year. The improvement of infrastructure for water supply, roads, irrigation and social sphere in 2014 was directed loans raised abroad in the amount of 702 million manat. --17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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