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 has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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