Nakhchivan Saves 798,000 Manat
The Supreme Majlis of Nakhchivan Autonomous Republic has approved the execution of the state budget of the exclave in 2014.
They published the law on execution of the state budget (http://www.huquqiaktlar.nakhchivan.az/StatementDetails.aspx?statementId=1392), which consists of a single paragraph, which reflected only two figures: revenues - 74,084,717 manat, expenses – 349,702,322 manat.
According to the law "On State Budget for 2014, ” NAR incomes have been approved in the amount of 66.8 million manat, and expenses as 350.5 million manat.
Thus, the government of Nakhchivan saved 798 thousand manat in 2014.
It is noteworthy that in 2014, when the gross domestic product was over $ 3 billion, local revenues in the NAR were approved at the level of 19 million manat. This is 1.9 million manat less than the income of the Imishli district.
The state budget of NAR is subsidized from the central budget. In 2014, only to finance budget expenditures the center allocated 283.7 million manat. In addition, the autonomous region receives hundreds of million manat for the implementation of public investment projects every year. ----08D
-
- Want to say
- 31 July 2015 12:47
-
- Economics
- 31 July 2015 13:54
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review