In the first Punisher this year the volume of investments in fixed assets in Azerbaijan amounted to AZN 2.9 bn. This is a 36.1% increase over the comparable period in 2012. The share of the state budget is AZN 1.9 bn of investment, accounting for 65.5% of the investment in the construction sector during this period, the State Statistics Committee told Turan.
In January-March 2013 from domestic sources was financed 68.2% of construction activity.
Investments in non-oil sector amounted to 1 823 million manat, which is 34% higher than the figure for the same period in 2012.
More than half (56.4%) of expenditure was in the sphere of production. It was commissioned in several industrial and agricultural enterprises. Also taken into operation was housing a total area of 370 thousand square meters, several secondary schools and pre-schools, club, health center and other social facilities.
Practice shows that in practice the cost of all the projects, which are sent to the Agency, is greatly exaggerated. Much of the investment money goes into the pockets of high officials of all levels. - 08D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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