Next week there will be a discussion of the draft state budget for 2015. According to the information on the website of the Ministry of Finance of Azerbaijan, the Board has approved the main fiscal law, now it should be approved by the Cabinet. Discussed will be not only the budget for next year, but also for 2016-18.
With reference to the Minister of Finance Samir Sharifov, it is said that the costs of the state budget for 2015 will support the economic and social reforms, strengthen the country's defense, environmental, economic and food security, and help timely implementation of commitments to service the external debt.
Azerbaijan's state budget for this year was approved with revenues of 18 billion 384 million manat and expenditures of 20 billion 63 million manat. The state budget deficit is projected at 1 billion 679 million manat or 2.87% of GDP. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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