Azerbaijan Economy in 2011

Azerbaijan Economy in 2011 Government of Azerbaijan (GoA) failed to achieve economic growth forecast for 2011. According to the State Statistic Committee Gross Domestic Product  (GDP) increased by 0.1 % and reached to 50.10 billion manat ($ 64,23 billion) in 2011 although th GoA projected 3,8 % growth for last year.  The State Committee reported that GDP per capita without PPP was 5530.6 manat ($ 7003, 4) in 2011.  According to State Committee inflation rate was 7,9 % in... Read More

CESD Ranked As One Of The Top Think Tanks In The World in 2012

CESD Ranked As One Of The Top Think Tanks In The World in 2012 The University of Pennsylvania ranked CESD among top fifty worldwide think tanks The University of Pennsylvania’s (UPenn) Think Tanks and Civil Societies Program announced rankings of the leading public policy research organizations in the world in their annual Global “Go-To Think Tanks” report. The presentation of the report took place at the United Nations Headquarters in New York on January,... Read More

Background Information for CSOs on EC Call under the Neighbourhood Civil Society Facility

Background Information for CSOs to apply to EC Call under the Neighbourhood Civil Society Facility for actions in the Public Finance Policy and Management (PFPM) Public Finance Policy Reforms Support Program is financed by European Commission and its implementation is intended to be carried out from the beggining of 2013 till the end of 2015. One of the objectives of the Program is to improve the quality of public finance management and its planning in a medium and longer-term... Read More

BP official: Shah Deniz won`t get caught up in Iran sanctions

BP official: Shah Deniz won`t get caught up in Iran sanctions The project on developing Azerbaijan’s Shah Deniz natural gas field doesn’t expect to get caught up in any potential sanctions on Iran, BP Shah Deniz Development’s Marketing Manager Steve Garlick said Wednesday, The Wall Street Journal reported. “There is at the moment an exemption, whether this exemption holds remains to be see,” Garlick said at the European Gas Conference in Vienna. The increasing... Read More

BP; “Shah Deniz 2” is very important for Europe

BP; “Shah Deniz 2” is very important for Europe zerbaijani Shah Deniz gas condensate field development is a long-term project with an important role for the European market and a positive impact in terms of energy security, BP’s Vice President for Shah Deniz Full Field Development Alasdair Cook told in interview to Natural Gas Europe. “Shah Deniz 2 is the biggest gas discovery BP has ever made and I am certain that production from such a giant reservoir... Read More

US is confidence in Nabucco feasibility faltering

US is confidence in Nabucco feasibility faltering Full implementation of the Nabucco gas pipeline project becomes less likely every year, a US State Department official was quoted by Russian RIA Novosti news agency as saying. ” It has become clear that it is more difficult to implement the project from the financial and temporal points of view,” Richard Morningstar, US Special Envoy for Eurasian Energy, told a conference, “Natural gas and Ukraine’s energy... Read More

Gold production falls in 2011

Gold production falls in 2011 Azerbaijan produced 1,775 kg of gold in 2011, 15.2% down on 2010. Silver production was down last year too, falling 9.8% to 1,217 kg, according to figures from the State Statistics Committee. In December, 142 kg of gold were mined, almost the same as the 143 kg produced in November, Fineco reported. Since the start of commercial gold mining in July 2009, the highest monthly gold production was in August 2010, 273 kg. Silver production in December... Read More

The World Bank Adjusted GDP Grow Forecast for Azerbaijan

The World Bank Adjusted GDP Growth Forecast for Azerbaijan The World Bank  (WB) also adjusted its forecast for GDP Growth in Azerbaijan in 2012, The Bank’s projection decreased from 6,1 % to 3.1%  according to  WB Global Economic Prospects Report.  Last week, International Monetary Fund (IMF) adjusted its economic growth for Azerbaijan from 7.2 % to 5.7 %. IMF’s newest explanation on modification was bottom on decreasing of oil production. According to the forecast of... Read More

Azerbaijan state budget revenues were $ 20,1 billion

Azerbaijan state budget revenues were $ 20,1 billion In 2011, revenues of the state budget increased by 37.7% and made up AZN 15.7 billion (($ 20, 1 billion) while the expenditures increased by 30.8% and totaled AZN15.4billion. The state budget was realized proficiently. The statement came from Economic Development Minister Shahin Mustafayev as the meeting of the Cabinet of Ministers on socio-economic development results in 2011 and tasks defined for 2012, chaired by President... Read More

Will Eurozone crisis affect choice of gas export route?

Will Eurozone crisis  affect choice of gas export route? The crisis in the eurozone will not affect the choice of route for transporting Azerbaijani gas to Europe, said SOCAR President Rovnag Abdullayev. To him, SOCAR is currently conducting talks on all 3 projects and the company plans to select a route for the transportation of gas by the end of the first quarter of this year. ‘The crisis in the eurozone will not affect the choice of route, becauase the contarcts are... Read More