Draft budget figures for 2017 show that economic activity in the next year will drop even more, the economist Natig Jafarli said.
In his profile on the social network Facebook Jafarli, analyzing the draft budget presented by the Ministry of Finance, advised to pay special attention to the reduction of investment costs by 38%.
‘In recent years, low-investment costs had been the engine of economic activity. Now, this model has failed, and economic activity will fall due to the reduction of investment costs by 38%,’ Jafarli said. -----71D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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