ISET’s Master’s Degree in Economics

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 abroad in Europe • Summer internships/job... Read More

Azerbaijani Oil Fund`s 2016 Budget: The deficit is higher than the fund’s income

Azerbaijani Oil Fund`s 2016 Budget: The deficit is higher than the fund’s income The budget of the State Oil Fund (SOFAZ) for 2016 was amended on March 2016. According to the new amendment the SOFAZ budget deficit will exceed its revenues for the year. Under the new document, Fund’s revenues were reduced from 6.712 billion manat ($ 4.221 billion US) to 4.578 billion manat ($ 2.954 billion US), while expenditures increased from 8.18 billion manat ($ 5.145 billion US) up to... Read More

Economists Appeal to President to Solve Foreign Currency Loans Problem

Economists Appeal to President to Solve Foreign Currency Loans Problem A group of prominent economists of Azerbaijan appealed to President Ilham Aliyev with a request to resolve the problem of foreign currency loans of the population. The problem of repayment of loans issued in foreign currency worsened markedly after the devaluation of the manat, which led to a twofold increase in the cost of credits in manat equivalent. This cheapening of the manat significantly outpaced the... Read More

Bloomberg: Central Bank Depleted by Azeri Crisis as Oil Brings No Relief

Bloomberg: Central Bank Depleted by Azeri Crisis as Oil Brings No Relief Vugar Bayramov: “Sooner or later, the central bank will have to pull out of the market to stop the depletion of its currency reserves” The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling. Every seventh lender is now shut, the currency is testing new lows and by one measure Azerbaijan’s international... Read More

Azerbaijani Oil Fund`s Confirmed 2015 Budget: Big Decline

Azerbaijani Oil Fund`s Confirmed 2015 Budget: Big Decline The assets of the State Oil Fund of Azerbaijan (SOFAZ) for 2015 decreased by 9.5% and as of 1 January 2016 reached $33.57 billion against $37.1 billion by 1 January 2015. The SOFAZ press release says that budget revenues for 2015 amounted to AZN 7.7 billion and expenditures AZN 9.187 billion. Download Full Article Here  Read More