The Ministry of Finance Budget Guide of the Citizen has been put on the official website (http://maliyye.gov.az/sites/default/files/CB_2016%2004112015%20arial.pdf) with the table of revenues and expenditures of the main fiscal law of Azerbaijan.
Thus, industry, construction and mining in 2016 the government allocated 3 billion 24.6 million or 16.4% of the expenditure part of the budget.
It is noteworthy that for the execution of government programs Cabinet will allocate AZN 3 billion in capital investment costs, amount to little more than transfers from the State Oil Fund (SOFAZ) - 3 billion 21.3 million AZN (total 6 billion AZN 21.3 million).
SOFAZ, according to tradition, will finance the improvement of social conditions of refugees and internally displaced persons, share of Azerbaijan's participation in the projects of the Southern Gas Corridor, as well as a number of objects protracted: reconstruction of irrigation Samur system - Absheron, the construction of the Baku - Tbilisi - Kars railway, as well as complex refining «Star» in Turkey. --17D-
Economics
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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