The next meeting of the Chamber of Accounts
In comparison to previous years meetings of the Accounting Chamber of Azerbaijan (ACA) have become more frequent. At the meeting of April 9 (the day before there was another one) they discussed and approved the results of the audit of government spending of funds allocated to the Executive Power of the Bilyasuvar and Sabirabad regions, as well as at the State Agrarian University.
Also conducted was the audit of financial activity in the lyceum named after Heydar Aliyev of the Ministry of Education, the National Library named after MF Akhundov, and the film studios Yaddash. Due to financial irregularities varying materials on the results of these checks will be sent to the Parliament.
In addition, the Chamber will verify compliance with the legislation of the use of executive bodies of the Tartar and Oguz districts of state land, and the use of forecasting revenues and expenses in the Agdash district branch of the State Social Protection Fund. The plans of the main fiscal organization is listed as verification of forecasting and targeted use of budgetary funds allocated to the Hajigabul management of the irrigation systems "Irrigation and Water Management" and the Pirsaat management of the operating systems of water supply winter pastures.
Accounting Chamber of Azerbaijan, reporting to the parliament, has been in force since December 7, 2001, as the body that controls the budget flows of the AR.
Leading employees (members of the Board, which consists of a chairman, his deputy and seven auditors) are elected every 7 years.
Accounting Chamber of Azerbaijan is usually limited to general statements about the board meeting, without giving specific figures and data. According to 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 state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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