Crude Oil Price in the 2016 state budget will decline by 45.0 %

Crude Oil Price in the 2016 state budget will decline by 45.0 % The Ministry of Finance of Azerbaijan has started drafting State Budget 2016. The Ministry has reported that with taking into account events at the world energy market, in particular declining trends in oil prices, the State Budget oil price will be set at the level of $50 US per barrel. The price of crude oil in 2016 state budget will be decreased by 45.0 % since it is $ 90 US per barrel this year’s budget. The... Read More

Currency reserves of Azerbaijan Central Bank dropped below $ 9.5 billion US

Currency reserves of Azerbaijan Central Bank dropped below $ 9.5 billion US The Central Bank of Azerbaijan (CBA) reports that devaluation failed to save its currency reserves from fall started in December 2014.The CBA reports that as of 1 April 2015 its currency reserves totaled $9.472 billion US versus $11.004 billion US by 1 March, $12.68 billion US by 1 February $13.758 billon US by 1 January 2015. It is the first time that CBA’s currency reserves have dropped below $ 10.0... Read More

New Opportunities for Azerbaijani Economists: ISET’s Master’s Degree in Economics

New Opportunities for Azerbaijani Economists: ISET’s Master’s Degree in Economics The International School of Economics at Tbilisi State University (ISET) accepts online applications for its highly-prestigious Master’s Degree Program in Economics. Azerbaijani applicants are offered: • Scholarships, covering the full or partial cost of tuition • Living stipends • Free housing for the entire duration of studies in Tbilisi • Possibility of internships and/or semester... Read More

Azerbaijan National Currency Rate: the Lowest in the Last Decade

Azerbaijan National Currency Rate: the Lowest in the Last Decade Azerbaijan Central Bank officially announced the lowest rate of the manat, the national currency, against foreign currencies including United States dollar in the last decade. The Central Bank’s official rate was 1.0517 against $ 1 US. The manat’s rate against the dollar was 1.0496 on April 07, 2015. The manat has depreciated against the dollar all days in the first week of April 2015… Download Full Article... Read More

Azerbaijani Oil Income in March 2015

Azerbaijani Oil Income in March 2015 Oil export declined by 26.0 % in March 2015 Azerbaijan exported 1 million 396 thousand tonnes oil was exported through all existing pipelines in March 2015. SOCAR Marketing and Economic Operations Department exported 169 thousand 470 tons of crude oil from the Novorossiysk Port, 254 thousand 3 tons of crude oil from the Supsa Port, and 1 million 226 thousand 280 tons of crude oil from the Ceyhan Port in March 2015. In general, 423 thousand... Read More

Will Azerbaijani National Currency be re-depreciated in 2015?

Will Azerbaijani National Currency be re-depreciated in 2015? The future of the Azerbaijani national currency is the hot topic in the existing agenda. Although Central Bank of Azerbaijan (CBA) announced on April 02, 2015 that no sudden changes in the currency policy are expected since the oil prices will be likely remain at the level of $50-55 per barrel until the end of the year: “It’s unlikely that the manat, Azerbaijan’s national currency, exchange rate will suddenly... Read More