Right to Property to Be Available on Documents Issued before Independence of Azerbaijan
President Ilham Aliyev issued a decree expanding the list of documents confirming the receipt of rights on acquisitions and real estate objects up to the entry into force of the Law of Azerbaijan On the State Register of Real Estate.
The list includes the Executive Committee of People's Deputies of the Council on the allocation of a land plot to housing construction and villa construction cooperatives for the construction of individual, multi-family houses.
The above list was approved on 13 January 2015. After this some of the individual buildings in the country received the documents on ownership, mainly in the Absheron peninsula. However, until now, hundreds of thousands of individual houses have no evidence on private property. Numerous studies of independent NGOs revealed that the problem with the state registration of these buildings is that many of them are built without the consent of local executive power, on the basis of the document on allotment or sale of land by the municipality. -----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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