The state budget in 2016 does not add funds from privatization of state property.
As the Azerbaijani Minister of Finance Samir Sharifov told the media, serious replenishment associated with the May presidential decree on additional measures and new rules to improve industry is expected in January next year. "Now we fulfill all the requirements under the decree to start the application of the new system," said the official.
According to the decree of the President, the government should develop a new draft law "On privatization of state property" by August 1, according to which the State Committee for Property Affairs will report annually the list of objects offered for sale in the budget package.
In addition, the document has suspended all decisions on privatization in the second state program, on which the deals have not been signed. Now, a new list of objects owned by the state has to be prepared in three weeks. --17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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