The Ministry of Finance published the preliminary forecast of the consolidated budget of Azerbaijan for next year, which reflects the revenues and expenses of the balanced budget of the State Social Protection Fund (SSPF) of the Ministry of Labor and Social Protection of Population.
The forecast for this indicator is set at 3 billion 400 million AZN (nominal + 2.8% to the declared level of the year, without taking into account the devaluation). As stated in the presentation (http://maliyye.gov.az/sites/default/files/2017-layihe.pdf), 1 billion 270 million (37.4% of revenues) will be transferred from the state budget, 704.4 million will be contributions from the state budgetary entities, and the remaining 1.42 billion will come at the expense of the compulsory insurance of employees of private entities.
Recall, income and expenses of the SSPF balanced budget for the current fiscal year have been approved at the level of 3 billion 307.36 million AZN. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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