From today (26 January), the new system of financing expenditures of education enterprises subordinate to local education authorities at the Ministry of Education will take effect.
Pursuant to the Presidential Decree on the application of the state budget for 2016, rules were adopted for the financing of enterprises by the formation of zonal centers of financial settlement at the Ministry of Education.
The main novelty is that the procurement of goods (works and services) for the formation of local enterprises will be carried out by the Capital Construction and Supply Office at the Ministry of Education. On the basis of annual procurement requirements will be carried out in accordance with the law of Azerbaijan "On public procurement" in a centralized manner.
It should be noted that until 2016 the local education departments enjoyed financial independence and procured directly. In the press there were numerous incriminating articles, which alleged that the purchases were made at higher prices, and the suppliers of goods (works and services) were dummies. -----08D
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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