Standard & Poor `s Report on Regional Banking Sector

Standard & Poor `s Report on Regional Banking Sector There won’t be a massive influx of Foreign Direct Investment (FDI) into the region’s banking sectors for the next two or three years, credit rating service of Standard & Poor `s said. “We expect FDI in Russian and CIS banking sectors to remain, at best, stable in absolute terms, and lower when compared to GDP, despite the countries’ overall good growth prospects,” the report of Standard... Read More

Princeton University and the World Bank laud PTF funded projects

Princeton University and the World Bank laud PTF funded projects Three PTF funded projects were featured in recent publications by Princeton University’s Innovations for Successful Societies and the World Bank’s Innovative Solutions for Governance series. The Princeton paper cites the PTF funded G-Watch implemented textbook procurement program in the Philippines. It notes that “Groups such as Government Watch, the National Citizens Movement for Free Elections, and... Read More

SOFAZ’s Tardy Investment Policy

SOFAZ’s Tardy Investment Policy Vugar Bayramov: “ SOFAZ’s investment policy is not flexible” The State Oil Fund of Azerbaijan (SOFAZ) intends to invest in commercial real estate in London, Paris, Rome, Istanbul and Moscow and is planning to increase its holdings in gold. As we know, an economic crisis has covered Western Europe. Due to the crisis, price drops have occurred erratically and unpredictably. Likewise, the dollar and especially the euro have weakened. The State... Read More

SOFAZ allocates over $4 billion for various projects and programs

SOFAZ allocates over $4 billion for various projects and programs The State Oil Fund of Azerbaijan (SOFAZ) allocated about 3.34 billion manat for the implementation of various infrastructure projects and other needs as of July 1, the official website of the State Oil Fund said on Friday. A significant amount of funds directed at improving the welfare of refugees and internally displaced persons, as well as addressing their employment. The State Oil Fund has allocated 1.020.2... Read More

SOFAZ names volume of transfers to state budget The total amount of transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget amounted to 29.772.3 billion manat as of July 1, 2012, the State Oil Fund said. The transfers into the state budget amounted to 4 592.3 million manat in the first half of the year. The volume of transfers provided in the expenditure part of SOFAZ budget for 2012 amounted to 9905 million manat. SOFAZ assets increased by 9.6 percent... Read More

Private Sector Losses in Azeri Export

Private Sector Losses in Azeri Export More than 95,0 % of total export volume in Azerbaijan belonged to state sector in the first half of 2012- said CESD sources at State Customs Committee. The export amounted to $ 12,7 billion and state share was $ 12,1 billion In the same period. Contribution of the private sector in the export made $577,9 million or 4.5 %, of individuals – $73,7 thousand or only 0.05 %. CESD experts mentioned that this fact confirmed that state sector... Read More

Azerbaijan doubts pipeline for Turkmen gas to be built soon

Azerbaijan doubts pipeline for Turkmen gas to be built soon Azerbaijan does not plan to invest in building a Transcaspian pipeline to pump gas from Turkmenistan to Europe and does not expect the link to be built soon although it supports the project, the energy minister said. The European Commission is in negotiations with Turkmenistan and Azerbaijan on the proposed pipeline, part of a planned series of links called the Southern Corridor that is designed to reduce European Union... Read More

SOCAR assets in 2011 make some AZN 17bn

SOCAR assets in 2011 make some AZN 17bn The assets of the State Oil Company of Azerbaijan made AZN 16,959 billion in 2011 against AZN 15,677 billion in 2010. The statement is contained in the consolidated report about SOCAR’s financial activity in 2011. The report on financial activity is prepared by Ernst&Young. The report notes that the current assets make AZN 4,929 billion and long-term assets AZN 12,030 billion. The founding capital of SOCAR made AZN 1,059, billion... Read More

CESD Monitoring Report of Construction of Central Asia’s major railway project involving Azerbaijan, Georgia, and Turkey

CESD Monitoring Report of Construction of Central Asia’s major railway project involving Azerbaijan, Georgia, and Turkey CESD Report Sparks Probe into Missing Millions This paper covers the construction and monitoring of the Baku Tbilisi Kars (BTK) railway. Throughout the process of monitoring, we encountered interesting facts that raise questions about the transparency of the construction project and that suggest that the process of selecting contractors, initial project costs,... Read More

CESD Paper: Iran’s Economy- On the Light of the New Sanctions

CESD Paper: Iran’s Economy- On the Light of the New Sanctions  CESD has produced new paper on Iranian economy on the background of the new sanctions. The paper looks current situation of Iranian economy, potential impacts of new sanctions, Iranian relations with West, neighbors as well as with Azerbaijan. The paper also focuses on social and economic impacts of new sanctions not only on Iranian economy but also Iranian population. Iran strives to trench sanctions... Read More