International experts do not see a reason to raise electricity tariffs in Azerbaijan.
According to analysts from Standard & Poor's, this could cause growth of social problems. The experts recommend replacing the tariff increase by new debt repayment and tax write-offs of Azerenergy, financial investments in its activities, and other measures, inherent in this type of economic system.
The updated rating of the state monopoly in electricity generation again ties its situation to the government in view of its role in this company. According to the experts, without state support this company, as well as its other counterparts, may face difficulties in servicing its debts due to erratic capitalization. --17D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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