Today NGO Center for Economic Research (CER) held with members of the Milli Majlis, representatives of governmental and non-governmental organizations and experts "round table" on the problems of the formation of accounting in local government, in accordance with National Accounting Standards (NAS). It was emphasized that none of the 1,718 municipalities in the country does not make the document on financial reporting, which is a violation of applicable laws.
At the event they presented the manual "The organization of accounting in the municipalities." The book, released in 500 copies, was published with the financial support of German international cooperation (GIZ). This organization is for two years with the CER on projects of strategic planning, budgeting and financial management in the Azerbaijani municipalities.
The originator of a manual, free auditor Altai Jafari said that local municipalities could hardly move to NAS, which are developed by the Ministry of Finance in accordance with international standards, but from January 2009, all they have to work on them. Many municipalities are accounting for the standards required for commercial entities, some of the old chart of accounts to budget organizations. In the municipalities missing are financial statements, there are not any balance sheets.
Coordinator of the program of support for local self-government in GIZ Fidan Gasimova said that the presence of valuable methodological guide, drawn up by illustrative examples will help municipal officials improve accounting and financial transparency. -08C-
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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