On the November 22th auction 16 properties were privatized, due to which the state budget received 2.1 million manat, the State Committee on Property Affairs (SCPA) said. Investors showed interest mainly to objects in Baku (7).
During the auction shares of two ginneries in the Barda and Saatli regions were sold.
Recall that the government intends to privatize at least 2,800 houses over the next 3-5 years.
Certificates of ownership of property at auctions are issued to investors in a few days to conclude the contract for the sale of the property.
Auctions are held on Tuesdays. Since July this year, properties put up for auction are valued at market value. The SCPA assures investors that the auctions for the sale of state property are carried out transparently. Any investor can participate.
Previous auctions for the sale of state property were carried out in a non-competitive environment. The objects were sold to the parties agreed in advance. ----08D
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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