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 State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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