The CESD Exclusive Assessment: Causes and Consequences of Rising Utility Prices in Azerbaijan

The CESD Exclusive Assessment: Causes and Consequences of Rising Utility Prices in Azerbaijan The regular meeting of the Tariff (Price) Council of the Republic of Azerbaijan held on November 28, 2016 re-examined the sale prices of natural gas, electricity, heating oil, jet fuel. According to the appeal made by the State Oil Company to the Tariff (Price) Council, during recent years large-scale investments have been undertaken to ensure the sustainability of natural gas supply... Read More

POLICY BRIEF PROGRESS OF ENERGY UNION IMPLEMENTATION: THE CASE OF AZERBAIJAN

POLICY BRIEF PROGRESS OF ENERGY UNION IMPLEMENTATION: THE CASE OF AZERBAIJAN Azerbaijan’s tradition in the business of oil and gas started in the 1800’s with the involvement of international oil companies and thanks to the fossil-energy Azerbaijan turned to be one of the world´s biggest oil producers. Taking into consideration the current status in the country, the Energy Union could provide to Azerbaijan a position of stability and security through the implementation of... Read More

The CESD Independent Assessment on the 2017 State Budget Project

The CESD Independent Assessment on the 2017 State Budget Project According to the legislation on the Budget system, the legislative project on the state budget of the Republic of Azerbaijan for 2017 and the state and consolidated budget projects of 2017 were publicized on 29th of September, 2016. It has been three years that the legislative projects on the consolidated and state budgets of the Republic of Azerbaijan are being prepared amidst the absence of positive economic trends... Read More

Azerbaijan Economy in the First Ten Months of 2016; Brief Overview

Azerbaijan Economy in the First Ten Months of 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first ten months in 2016. Both independent and official reports show that GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased 3.7 % in the first ten months in 2016 since CESD calculations found out 4.1 % decline in the economy. According to the... Read More

New currency crisis in Azerbaijan

New currency crisis in Azerbaijan Azerbaijani banks completely halted foreign-currency sales as demand by businesses and households soared and the manat continued to depreciate against the dollar. Central Bank of Azerbaijan depreciated local currency against the dollar by almost 7 % in the last month. The official rate of the manat was depreciated against the dollar to 1.7039 on November 15th, 2016 from 1.5969 on October 18th 2016. Meanwhile, the manat’s rate against dollar... Read More

Azerbaijani Central Bank’s reserves knock “the read-line”: Next devaluation is at the door

Azerbaijani Central Bank’s reserves knock “the read-line”: Next devaluation is at the door The Central Bank of Azerbaijan (CBA) lost $ 127.0 million US of its foreign currency reserves in October 2016 due to high demand for foreign currencies. CBA’s foreign currency reserves declined to $ 4,005 billion US in November 1st, 2016 from $ 4,132 billion US in October 1st, 2016. Due to law oil price in the world market, high demand for foreign currency and high intervention... Read More

Azerbaijani Oil Income in October 2016

Azerbaijani Oil Income in October 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that its oil export grew by 45.5% in October 2016 compared with previous month. The SOCAR reports that it exported 2.017 million tons of oil against 1.386 million tons in September, 1.53 million tons in August and 1.924 million tons in July (this year’s best indicator). At that, October’s oil export via Baku-Novorossiysk oil pipeline reached 80,192 tons (versus 169,279 tons... Read More