$ 1 billion oil money for each month

$ 1 billion oil money for each month CESD: “SOFAZ is not adequately meeting its central objectives” Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2012 reached 10,1 billion mantas ($ 12, 9 billion US) , while budget expenditures constituted 7,5 billion Mantas  ($ 9,7 billion US.) Since $ 9,7 billion US spent in the last 9 months of 2012, it means that more than $ 1 billion US spent in each month. Regarding... Read More

2013 Budget Package at the Azerbaijani Parliament

2013 Budget Package at the Azerbaijani Parliament Azerbaijan’s budget project for 2013 will be discussed at the meeting of Economic Policy Committee, said the Committee Chairman Ziyad Samadzade. According to him, the budget package will be discussed at the plenary meeting of parliament, APA reports. Touching upon the base price of oil in the state budget Samadzade stressed that, this extent was not risky and within its determination the oil price dynamics was analyzed. Note... Read More

SOCAR’s Ranking is Still “BBB-“

SOCAR’s Ranking is Still “BBB-“ Fitch Ratings has affirmed State Oil Company of the Azerbaijan Republic’s (SOCAR) Long-term foreign currency IDR at ‘BBB-‘ with a Stable Outlook. Short-term foreign currency IDR was affirmed at ‘F3’, the Agency said in its report. SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.... Read More

New Hopes for Next Round of Visa talks?

New Hopes for Next Round of Visa talks? “The third round of visa talks between Azerbaijan and the European Union will be taken place in Baku on November, 6-7”; CESD sources at the Ministry of Foreign Affairs said. The visa facilitation and readmission negotiations follow the political commitment taken at the Prague Eastern Partnership Summit in May 2009 regarding the improvement of people-to-people contacts. The Visa Facilitation and Readmission Agreements Negotiations were... Read More

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan “BP is the largest investor in Azerbaijan. It took an active part in the implementation of various development projects in the country. The largest share of the UK’s foreign investment in Azerbaijan is belong to BP”-said expert economist Vuqar Bayramov in answer to FaktXeber.com’s question:“Could BP refuse to continue working in Azerbaijan?” Mr. Bayramov noted, however, that the... Read More

Will Oil price be revised in 2013 state budget?

Will Oil price be revised in 2013 state budget? The Azerbaijani Finance Ministry has studied the situation on the world market in detail prior to setting the forecast oil price in the country’s state budget for 2013. The statement came from Azerbaijan’s finance minister Samir Sharifov.  According to him, the situation with the world oil prices does not create concern. “We have no concerns as to the decrease in oil prices”, Sharifov said. The oil price... Read More

CESD Seminar on Building the Competitive Advantages of Greater Baku

CESD Seminar on Building the Competitive Advantages of Greater Baku Kaia Miller is founder of Aslan Global, Inc., a Boston-based consulting firm advising private and public sector organizations in developing economies on competitiveness and economic development, and on the role of diasporas in building homeland competitiveness had presentation on Building the Competitive Advantages of Greater Baku on October 27, 2012 at the CESD office with participation of representatives from... Read More

CESD was nominated on 12 categories as one of the best think tanks in the world

CESD was nominated on 12 categories as one of the best think tanks in the world CESD was nominated as one of the best think tanks on 12 categories for the best think tank in the world by the University of Pennsylvania (USA) Think Tanks and Civil Societies Program. According to University of Pennsylvania, over 1000 individuals participated in the nominations process from 105 countries which resulted in 743 institutions qualifying for consideration across the 37 categories. The... Read More

CAREC program to be institute by 2014

CAREC program to be institute by 2014 Ministers of the 10 Central Asia Regional Economic Cooperation (CAREC) Program nations have agreed on a plan to implement more than $23 billion in new regional transport infrastructure projects, together with energy and trade initiatives, aimed at creating seamless connectivity and greater prosperity in the region, ADB said today The Wuhan Action Plan, unveiled at the ministers’ meeting today, prioritizes 68 transport projects... Read More

Azerbaijan State Budget for 2013

Azerbaijan State Budget for 2013 The revenues of the 2013 state budget are forecast to make up AZN 19,154 billion ($ 24,556 billion), while expenditures – AZN 19,8 billion ($ 25,384 billion).  According to the 2013 draft budget, the forecast revenues are AZN 2,116 billion ($ 2,712 billion) or 12.4% more against the 2012 state budget. Of the 2013 budget revenues, AZN 11.4 billion ($ 14,165 billion) or 59.3% of overall budget revenues will account for transfers of the State Oil... Read More