The Ministry of Finance has prepared the "Budget Guide for Citizens» for a second consecutive year (http://maliyye.gov.az/node/1666). The document in an intelligible way reveals details of the state budget for 2015 for those who are not particularly versed in financial matters. However, there are no answers to many questions of citizens.
The Azerbaijani government has an international obligation to ensure the financial statements of public spending. According to the evaluation document promulgated by the Ministry of Finance in December 2014, referring to the World Bank on Public Financial Management (http://maliyye.gov.az/sites/default/files/PEFA_AZE%20FINAL.protected.pdf), Azerbaijan since 2008 has made great progress on a comprehensive transparency and public disclosure of information, etc. Nevertheless, there are certain disadvantages of tax administration and public procurement, internal and external audit of public expenditures.
In the book Budget Guide for Citizens there are components of revenue and expenditure of the state budget for 2015. Basically it is virtually schedule presidential decree on the application of the state budget for its individual sections.
For example, in 2015 the budget revenues of budget organizations are projected at 300 million manat. In comparison with the year 2014 revenues will be reduced by 100 million manat. Due to what factors it will happen and what is generally meant by this article the revenue side of the budget does not say a word.
In 2015, expenses of the Trust Fund Highways will increase from 214 million to 290 million manat. In 2013, the Ministry of Transport received on this line from the state budget 194 million manat. Means of the fund are used to finance the costs of "preservation of roads." How purposefully the funds are used Azeryolservis and the Ministry of Transport did not report. In addition to these funds the Ministry of Transport receives hundreds of millions of manat for road construction. Local executives do not remain aloof from the "daily bread" for road construction, too.
In 2015, the National Center for Oncology (NCO) will receive from the state budget only for therapeutic purpose 42,208,324 manat, which is 8.4% more than in 2014 and 28.9% - than in 2013. The Ministry of Finance did not say why these funds grow in such a pace. In addition, the local media have repeatedly published articles that cancer patients undergo examination and treatment, as well as receive medication on a paid basis, although formally NCO as a budget organization should provide services free of charge. 08B
Economics
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The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
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Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
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Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
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The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
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