The draft law on the state budget of Azerbaijan for 2016 has been submitted to the Milli Majlis.
According to the estimated figures, the total borrowing limit was set at 4 billion manats, of which 2.5 billion AZN is from domestic and 1.5 billion AZN from external sources. The total borrowing limit will be, according to these data, 27.46% of the planned revenues (14 billion 566 million AZN).
At the same time the cost of servicing domestic and foreign debt will amount to 1 billion 249 million 735.15 thousand manats (7.68% of expected expenditure of $ 16 billion 264 million AZN). For the domestic debt service there will be allocated about 301.07 million manats, and for the foreign debt - 948.67 million manats. --17D-
Economics
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Police officers from the 36th Department of the Khatai District Police Department have detained Saday Sarkarov, who was elected by residents of the residential complex at 58b Ganja Avenue to represent their interests in court against the management company Xətai Park Servis.
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Kazakhstan’s budget airline FlyArystan has launched ticket sales for the Baku-Astana-Baku route ahead of the summer travel season, the airline’s press service said on Monday.
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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