$ 3,2 billion was transferred to the state budget from SOFAZ in the half of year al

$ 3,2 billion was transferred to the state budget from SOFAZ in the half of year alone   Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2011 reached 7827.2 million mantas ($ 10,034 billion), while budget expenditures constituted 2593.1 mln. Mantas ($ 3,324 billion). Revenue of 7692.2 mln. manats for the period of January-June, 2011 was received from implementation of oil and gas agreements, including 7518.1mln.... Read More

Macro-economic Forecasts for Azerbaijan

Macro-economic Forecasts for Azerbaijan European Bank for Reconstruction and Development has released the forecasts on Azerbaijan’s main macroeconomic indexations.  According to EBRD, the GDP growth rate will make 3%, at the end of this year.  Same performance will be observed in 2012, too.   EBRD also forecasts that the inflation will be 9.1% in 2011. Below tables show that macro-economic forecasts made by different institutes completely differ each other. For instance,... Read More

EBRD: Economic Risks Continue

EBRD: Economic Risks Continue The EBRD’s latest “Regional Economic Prospects Report” says risks to the outlook are continuing to mount.  “An escalation of the euro zone crisis would pose serious risks to growth and recovery across the region, especially in south-eastern Europe and the new EU members,” says Erik Berglof, the EBRD’s Chief Economist.  The warning comes in a publication of July 22, on the EBRD bank’s latest growth forecasts for its 29-country region... Read More

Azerbaijan predicted to have lowest GDP growth in 2011 among CIS countries

Azerbaijan predicted to have lowest GDP growth in 2011 among CIS countries The GDP growth in CIS may total 4.5% in 2011 and 4.53% in 2012. The figures were announced after macro monitoring by the Eurasian Development Bank. Leading Central Asia economies for economic growth will be Turkmenistan (9.3%), Uzbekistan (7.8%), Tajikistan (6.1%), Kazakhstan (5.9%) and Kyrgyzstan (5.7%). Economies of Russia and Ukraine will grow 4.5%, Moldova – 4.1% and Azerbaijan – 3.9%. Monitoring... Read More

CESD Presented Insurance Report

CESD Presented Insurance Report Center for Economic and Social Development (CESD) presented the insurance assessment report with support of Open Society Institute at the CESD Conference Hall on July 20th, 2011 with participation of well-known experts. Download here    Read More

Azerbaijan Economy in the first half of 2011; Comparative Analysis

According to State Statistic Committee of Azerbaijan Republic Growth Domestic Product (GDP) increased 0,9 % compare with the same period of previous year since calculations done by Center for Economic and Social Development (CESD) indicated (-) 1,0 % GDP decreased in the same period.  Government sources announced that GDP growth in non-oil sector was 7.2% in the first half. Agricultural production growth in Azerbaijan was 6.2% and population’s income increased by 17%, in the... Read More

Visa regime to be simplified between Azerbaijan and Europe

Visa regime to be simplified between Azerbaijan and Europe Negotiations will begin in autumn this year on the simplification of the visa regime between Azerbaijan and the European Union. Vugar Bayramov, national coordinator of the EU Eastern Partnership Program in Azerbaijan, discussed the development with media while on a business trip in Brussels. Dr. Bayramov held meetings with representatives of the European Commission as well as with Polish officials who lead the... Read More

UN-CESD Population Day Event

UN-CESD Population Day Event Representatives from more than 50 organizations gathered together to discuss different social-humanitarian issues in Baku United Nation Office in Baku and Center for Economic and Social Development (CESD) organized World Population Day event in Baku, Azerbaijan on July 11, 2011 with participation of representatives from government and civil society organizations. Head of UN Office in Baku, Ambassador Fikret Akcura addressed to importance of celebrating... Read More

$ 12,1 billion will be transferred to State Budget from the SOFAZ in 2011 alone

$ 12,1 billion will be transferred to State Budget from the SOFAZ in 2011 alone Although The State Oil Fund of the Republic of Azerbaijan (SOFAZ) assets reached 30,2bn USD dollars (July, 01, 2011), oil dependency was highly increased in Azerbaijan in 2011, the Center for Economic and Social Development (CESD) announced.  Fund’s assets increased from 22,8 billion at the beginning of 2011 up to 30 billion USD dollars. Share of oil sector in the state budget reached 78 % meanwhile... Read More

CESD produces report on tourism sector in Azerbaijan

2011 has been declared the “Year of Tourism” in Azerbaijan. The tourism sector is of key importance as one of the priority directions of the non-state sector. Today works are carried out to draw tourists from foreign countries. In addition, works are carried out to promote tourism opportunities of Azerbaijan abroad. Azerbaijan gets $100 million profits from tourism, however Cyprus which occupies smaller territory earns $2 billion from this sector. Azerbaijan has a great capacity... Read More