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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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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