The State Oil Fund issued a report on the financial performance for 2015, according to which the reserves of the Fund for the year decreased by $ 3.6 billion and accounted for $ 33.5 billion at the beginning of 2016.
For 2015 the budget revenues of the Oil Fund amounted to $ 7.3 billion, which is $ 8.8 billion less than in 2014. Budget expenditures of the Fund in the past year totaled $ 8.7 billion (2014 - $ 12.8 billion).
Since the establishment of SOFAZ (2000), its budget has never been in short supply. The Fund completed 2015 with a deficit of $ 1.4 billion.
Reducing SOFAZ currency reserves is associated with the loss of value of currency and so on assets (real estate and gold). ----08D
Economics
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Azerbaijani President Ilham Aliyev signed a decree on Monday aimed at improving social welfare, increasing the country’s minimum monthly wage to 400 manats ($235) starting January 1, 2025.
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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