Russia’s accession to the WTO on Azerbaijan Economy

Russia’s accession to the WTO on Azerbaijan Economy Workshop on the impact of Russia’s accession to the WTO on Azerbaijan economy was held in Baku, Azerbaijan on December, 2012 with financial and logistical support from GIZ, Germany with organizational support of Academic Director, Head of the Center for Economic Studies of the Institute for Economic Research and Policy Consulting, Ukraine, the Center for Economic and Social Development (CESD). Results of the joint study on... Read More

2012 Global GoTo Think Tank Index Release

2012 Global GoTo Think Tank Index Release Think Tanks and Civil Societies Program’s (TTCSP) will launch of the 2012 Global GoTo Think Tank Index, the annual rankings of the world’s top think tanks,on Thursday, January 17,2013. The report will be released at the World Bank in Washington, DC on the morning of the 17th at 8:00 AM and in New York at the United Nations that same day at 3:00 PM. The Global GoTo Think Tank Index is the result of an international survey of over 1,950... Read More

Oil output declined by 2,8 million tons

Oil output declined by 2,8 million tons Azerbaijan produced 39,4 million tons in the first ten months of 2012.  Compared to the same period last year, oil production declined by 2,8 million tons, according to CESD calculations Oil output was 3,4 million tons in November, 2012.  According to official forecast, 45,0 million tons oil will be produced in 2012. Azerbaijan’s oil production was 45,4 million tons in 2011 which was  5,434 million tons less than in 2010. © CESD,... Read More

Azerbaijani State Budget Approved

Azerbaijani State Budget Approved President of Azerbaijan Ilham Aliyev has approved the state budget for 2013.  The 2013 state budget revenues were approved at AZN 19,159,000,0, expenditures – AZN 19,850,000,0 (including centralized revenues at AZN 18,462,397,8, local revenues – AZN 696,602,2, centralized expenditures – AZN 18,335,450,0, local expenditures – AZN 514,550,0). Note; 1 AZN = 1,24 USD  Read More

SOCAR Oil Production Declined

SOCAR Oil Production Declined State Oil Company of Azerbaijan (SOCAR) produced 7,6 million tons of oil in the first eleven months of 2012. The statement came from sources in SOCAR. 706,638 tons of oil were produced in January, 660,942 tons in February, 660,900 tons in March, 684,300 tons in April, 700,900 tons in May, 678,500 tons in June, 700,900 tons in July, 701,800 tons in August, 680,100 tons in September, 705,113 tons in October, 683,200 tons in November. Oil production... Read More

To Cut or Not to Cut?

To Cut or Not to Cut?   İs that the Question for Central Bank in Azerbaijan? The Central Bank has lowered its discount rate from 5.25% to 5% starting this week. According to the Central Bank, taking into account the optimal level of inflation, this step will lead to a decrease in inflation rates and thereby support economic growth in non-oil sectors.  The bank said that the targeted inflation rate would maintain currency stability and increase the money supply appropriately.... Read More

WTO Negotiations: without results?

WTO Negotiations: without results? Negotiations continue between Azerbaijan and WTO on joining the organization, which are conducted on both bilateral and multilateral basis.  The statement came from Deputy Foreign Minister Mahmud Mammadguliyev. According to him, Azerbaijan in the negotiations proceeding from national interests. “Also, there are issues of  protection of our agriculture, fees etc. However, the WTO requires new terms and conditions, to which our companies,... Read More

Huge Decline in Oil Export

Huge Decline in Oil Export Baku-Tbilisi-Ceyhan pipeline exported 27,327 million tons of oil in the first eleven months of 2012. Compared to January-September 2011, exports decreased by 2,73 m tons, according to SOCAR. In January, exports amounted to 2,7m tons, in February -2,45m tons, in March – 2,7m tons, in April – 2,3m tons, in May – 2,801m tons, in June – 2,732m tons, in July – 2,12m tons, in August – 2,367m tons, in September – 2,261m tons, in October – 2,164m... Read More

Azerbaijan produces over 15 bn cubic meters of gas

Azerbaijan produces over 15 bn cubic meters of gas In January-November, Azerbaijan produced 15.7 bn cubic meters of marketable gas, according to the State Statistical Committee.  In 2011, Azerbaijan produced 25.7 bn cubic meters of gas. According to government forecasts, in 2012, the country is expected to produce 28.28 bn cubic meters of natural gas.  Read More

Inflation rate in November; Government reports 1,0 %, CESD survey 2,8 %

Inflation rate in November; Government reports 1,0 %, CESD survey 2,8 % Prices of consumer goods and service tariffs increased by 1% in November, 2012 compared to the previous month- State Statistics Committee reported.  According to the official report, the increase in prices was fixed on food products by 1.9%, non-food products by 0.3%, paid public services and tariffs by 0.1%. CESD has also concluded its price collection for November, 2012. According to the CESD finding, monthly... Read More