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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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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