The parliament began discussing the package of laws included in the state budget in 2017.
For three days MPs will debate the bills "On State Budget for 2017"; "On the criteria needs for 2017"; "On the budget for 2017 of the State Social Protection Fund"; and “On estimates of the costs of the Parliament and the Accounting Chamber”.
The state budget revenues are projected at 16 billion 255 million, while expenses - at the level of 16 billion 900 million manat.
Parliament Speaker Ogtay Asadov said at the discussions that despite the problems, the economy of Azerbaijan has been able to maintain stability and for the next year real economic growth is projected.
According to the Speaker, the state budget has kept social orientation.
"The main priority is to increase revenues from the non-oil sector," he said.
The Minister of Finance Samir Sharifov, in turn, said the decision of the Tariff Council on raising prices increased the revenues and expenditures of the state budget by 300 million manat. -71D-
Economics
-
Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
-
Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
-
The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
-
BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
Leave a review