Finance Minister Samir Sharifov said at a press conference that he does not plan to revise the state budget for 2015. He explained this by the fact that oil prices allow to execute the budget in the provided amount.
In November 2014, the Minister noted that according to the budget calculated for the $90 per barrel, nothing threatens a price not less than $ 60 per barrel.
According to the law on the state budget, the budget correction can be made at 30% deficit. But this was not required due to the devaluation of the rate of manat by the Central Bank by 33% in one day in February this year.
According to the Minister, in the first quarter the budget deficit amounted to 251 million manat, and it will be covered by the provisions of the previous year, and other income.-0-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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