More than 340 million AZN returned to the budget by the Ministry of Finance in the past year.
As stated in the report of the government, the chief manager of the treasury was a participant of 317 lawsuits related to claims from the plaintiffs to the Ministry on the disbursement of funds from the state budget. The Finance Ministry gained the amount in the course of proceedings, where the courts accepted its position.
In addition, last year the Ministry initiated verification in regional financial departments and separate state-budget organizations for the targeted use of budgetary funds. As a result of inspections they revealed misuse of public funds in the amount of 5 million 125.3 thousand manat, of which 4 million 929.6 thousand manat was paid to the budget.
In addition, the Ministry of Finance services revealed misappropriation of funds in state-budget organizations in the amount of 107.9 million AZN. Reports on these facts were submitted to the prosecuting authorities. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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