The first half of the year is nearing the end, but so far the public has no idea about the nature of the majority of projects funded by the NGO Support Council under the President of the country. The impressive list of 217 organizations (http://www.cssn.gov.az/xeberler/20140210062751306.html) that received grants on various topics is not an indicator of solidity of the work done. About 2 million manats has been spent from the budget, but the result is not clear.
The Ministry of Finance needs financial statements, but it does not care about quality. According to Article 247-1 of the Code of Administrative Offences (violation of laws, regulations and reporting and accounting information), violation of accounting rules established by law is punishable by a fine on officials in the amount of 300 to 400 manats, while for legal entities it is 1500 to 2000 manats.
However, the public (taxpayers) needs a specific result. According to international practice and procedure, non-governmental organizations are accountable not only to donors or the government, but also to beneficiaries, target groups and stakeholders including citizens - it is for them that the projects are operated.
Recently the Council of State Support to NGOs stated that some organizations will no longer be allowed to participate in competitions because of weak accountability. This caused discontent with non-governmental organizations "permanent resident" of the Council.
Now a new list has been published (http://www.cssn.gov.az/xeberler/20140526110652955.html), so you can find the number of matches and the level of implementation. -17D-
Economics
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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.
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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.
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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.
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"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.
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