According to the preliminary forecast of the consolidated budget of Azerbaijan for the next year, released by the Ministry of Finance, the State Oil Fund (SOFAZ) revenues will be the dollar equivalent of 15 billion 955 million manats, or 26% of the estimated GDP.
The government expects the average annual oil price of $ 50 per barrel. The revenues are expected to be AZN 867 million lower than the forecast for this year. The state budget has been drawn up at the rate of $ 40 per barrel. --17D-
Economics
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Azerbaijan Airlines (AZAL) announced on Monday the launch of its first direct flights from Baku to Male, the capital of the Maldives, marking a milestone in the airline's history.
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Azerbaijani Energy Minister Parviz Shahbazov arrived in Romania on Monday at the invitation of his Romanian counterpart, Sebastian-Ioan Burduja, to participate in the 8th meeting of the Ministers of Azerbaijan, Georgia, Romania, and Hungary. The meeting, scheduled to take place in Bucharest on September 3, 2024, is aimed at advancing the "Strategic Partnership Agreement" focused on the development and transfer of green energy.
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President Ilham Aliyev of Azerbaijan and First Lady Mehriban Aliyeva on Monday reviewed the ongoing construction at the “Istisu” Medical and Recreation Complex in the Kalbajar district, a key project aimed at revitalizing the region's historic mineral water and health tourism industry.
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As previously reported, SOCAR began gas supplies to Croatia on September 1.
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