On July 11, 2012 Turkish President Abdulla Gyul ratified the intergovernmental agreement on construction of the trans-Anatolian gas pipeline (TANAP), which was signed between Azerbaijan and Turkey in Istanbul on June 26, 2012.
Construction of the TANAP gas pipeline, which will originate from the east of Turkey and reach the EU border on the west of the country, will begin in the second half of 2014 and end in quarter 4, 2017. The preliminary cost of the pipeline is 7-8 billion Euro. The pipeline will be about 2,000 km long and the pipe diameter will be 56 inches. Its initial capacity of 16 billion cub.m. could be expanded up to 32 cub.m. after 6-8 years to export 20 billion cub.m. of gas to the European markets and 12 billion cub.m. of Azerbaijani gas a year to the Turkish local market. Feasibility study of the project will be ready by quarter 4, 2013.—0—
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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