At a meeting on July 11, the Accounting Chamber of Azerbaijan (SPA), discussed a plan for verifying the level of budget funds allocated to the intended use of housing and municipal departments, enterprises and organizations, on the balance of executive power of Shabran region.
It is also planned to analyze the targeted use of state capital investments allocated for the needs of the Executive Power of Gazakh and "Azerbaijan Railways".
In addition, the Chamber approved a program of audit performance of funds allocated from the state budget for the maintenance of the Azerbaijani embassy in China, and the calculation and payment of state duty.
Accounting Chamber of Azerbaijan, accountable to the parliament, has been in force since December 7, 2001, as the body that controls the use of budget funds of Azerbaijan.
Leading employees (members of the Board, which consists of a chairman, his deputy and seven auditors) are elected every seven years.
Accounting Chamber of Azerbaijan, is usually limited to general statements about the board meeting, without giving specific figures and data. According to the Article 6.0.3 of the Law of Azerbaijan "On receiving information" ("Basic principles of information"), the disclosure of information on budget revenues and expenditures is the responsibility of government agencies, including the Chamber of Accounts. - 17D-
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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