The Committee on Legal Policy and State Building of the Milli Majlis proposes to toughen the penalties for misuse of budgetary and other public funds.
According to the proposed amendments to the Criminal Code of Azerbaijan (article 308-1), for the admission of inappropriate use of the state budget, target budget funds and extra-budgetary funds a fine of 8,000 to 10,000 manats or imprisonment of up to 3 years will be applied.
Misuse of funds in the amount of 250,000 manat or more provides for the application of the penalty of imprisonment from 3 to 6 years.
The proposal will be submitted to the next session of Parliament in the spring session. --17D-
Economics
-
Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
-
Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
-
Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
-
Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
Leave a review