Getting funding the project "Optics in every home" in the long-term development of ICT in Azerbaijan provided for in the fourth quarter of this year.
As journalists were told by the executive director of the State Oil Fund (SOFAR) Shakhmar Movsumov, this year there will be allocated 103.6 million manat (from the general $ 500 million) to fund this program, designed for 3 years.
According to him, the project is not designed to end that delayed the start of implementation. Following the principle of reform and the package of reforms funding becomes available. The project promises to be a highly profitable due to reinvestment from the second year of funding. As a result of the project throughout the country, including rural and remote communities, have access to high-speed Internet within 10-100 Mbit / s.
The share of this segment of the users of ICT services can go up to 85%, which would allow the country by 2017 to reach the level of developed countries. - 17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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