At the Board meeting of April 1, the Accounting Chamber of Azerbaijan adopted the report on its own activities in the past year and recommended it for discussion at the next session of Parliament.
According to the official information, the Chamber also identified testing the production association Azerigas of SOCAR and JSC Aztelecom. In addition, the audit plan was approved by the labor inspectorate in the Nakhchivan Autonomous Republic, in the department of culture and tourism in the central hospital in the Barda region, as well as the local branch of the State Social Protection Foundation in the Beylagan district, the purpose of which is the analysis and prediction of the target and the use of budget extra-budgetary funds allocated for the maintenance of the institute.
The Accounting Chamber of Azerbaijan is accountable to the country's parliament and has been effective since December 7, 2001 as the authority controlling budget spending in Azerbaijan.
Senior officials (members of the Board, which consists of the chairman, his deputy and seven auditors) are elected every seven years.
The Accounting Chamber of Azerbaijan, as a rule, is limited to general statements about the board meeting, without giving specific figures and data. According to Article 6.0.3 of the national law "On receiving information" ("Basic Principles of Information"), the disclosure of budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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