Azerbaijan will reduce the state budget expenses in 2016 due to falling oil prices. This was stated by President Ilham Aliyev, speaking in Baku at the meeting of the Board of Governors of the Asian Bank.
"Falling prices for oil and gas can not disturb Azerbaijan. In response, we reduced unnecessary costs and improve the management system," Aliyev said.
Assessing the economic situation, he said that the investment climate remains favorable. Unemployment in Azerbaijan is at the level of 5%, while the poverty rate dropped to 5%. This means that we managed to avoid the "Dutch disease", Aliyev believes.
"In some countries rich in oil the rich get richer and the poor get even more impoverished. Our goal is to let all use these revenues," he said. -02D-
Politics
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"A group of hydrologists and engineers from Azerbaijan and Armenia, with our active support, is working together on a comprehensive water management scheme for transboundary rivers," the U.S. Ambassador to Azerbaijan, Mark Libby, wrote on the U.S. Embassy's social media account on November 12.
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As the Biden administration draws to a close, Secretary of State Antony Blinken is headed on an emergency trip to Brussels to discuss how to support Ukraine with European allies.
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The Prosecutor's Office is investigating the deaths of two people during the recent floods in Baku, Baku Mayor Eldar Azizov said commenting on the consequences of the flooding of tunnels in the capital during the heavy rains on October 22 to journalists. According to him, the sewer system could not handle the large volume of floodwater, which led to the drowning of two people in a tunnel in the Sabunchu district of Baku. The floods revealed vulnerabilities in Baku's water infrastructure.
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The United States is ready to assist all countries, including Azerbaijan, in the transition to renewable energy sources, the U.S. National Climate Advisor Ali Zaidi said at a briefing at COP29, in response to a question from Turan about how the U.S. could support Azerbaijan in moving from oil and gas to clean energy.
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