Azerbaijan Oil Fund’s Annual Report: Spending is more than income

Azerbaijan Oil Fund’s Annual Report: Spending is more than income Annual report is available at the CESD’s web site Azerbaijan’s sovereign wealth fund SOFAZ recorded decrease in the revenues from the hydrocarbon sales in 2016 due to the low oil prices, while there was a significant increase in the revenues from the management of the Fund’s assets. The revenues obtained from the sales of Azerbaijan’s share of hydrocarbons, the fees paid... Read More

Azerbaijan Economy in the first four months of 2017; Brief Overview

Azerbaijan Economy in the first four months of 2017; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first four months of 2017. Both independent and official reports show that GDP decreased in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP decreased by 1.2 % in the first four months of 2017 compared with the period of 2016 since CESD calculations... Read More

Azerbaijani oil output: In permanent decline?

Azerbaijani oil output: In permanent decline? The State Statistics Committee of Azerbaijan has reported that the country produced 12.6 million tons of oil in the first four months of 2017 that was by 9.5% less compared with the period of 2016. Oil stocks as of 1 May 2017 reached 414,700 tons against 629,300 tons by 1 April and 410,200 tons by 1 January 2017. In 2016 the country produced 41.03 million tons of oil that was less than production for 2015... Read More

Azerbaijani oil export declined by 4.5 %

Azerbaijani oil export declined by 4.5 % Azerbaijan exported 5 million 374 thousand 87 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2017. Meanwhile, 878 thousand 664 tons oil exported through Supsa and 489 thousand 206 tons by Novorossiyski. It means that Azerbaijan exported 6 million 741 thousand 959 tons oil in the indicated period. According to the SOCAR’s report, Azerbaijan exported 5 million 741 thousand 694... Read More

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

Azerbaijan Economy in the First Nine Months of 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first nine 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 3.9 % in the first nine months in 2016 since CESD calculations found out 4.3 % decline... Read More

2016 State Budget of Azerbaijan was Approved

2016 State Budget of Azerbaijan was Approved President of Azerbaijan Ilham Aliyev has approved the state budget for 2016 on December 7th, 2015. Total government revenues will be 14.6 billion manats ($13.9 billion), down from 19.4 billion manats this year. Spending will be 16.3 billion manats, down from 21.1 billion manats in 2015. A deficit of 2.9 percent of GDP is expected, up from 2.6 percent of GDP in 2015. The oil sector is expected to decline... Read More

Azerbaijani Oil Income in February 2015

Azerbaijani Oil Income in February 2015 Azerbaijani oil export slight increased last month compared with January 2015 since the country exported 1,885 million tones crude oil to the world market in February 2015. According to the State Oil Company of Azerbaijan Republic (SOCAR), 84 thousand 807 tons of crude oil from the Novorossiysk Port, 254 thousand 179 tons of crude oil from the Supsa Port, and 1 million 630 thousand 350 tons of crude oil from... Read More

Sharp Decline in Azerbaijani Oil Income in January 2015

Sharp Decline in Azerbaijani Oil Income in January 2015 Azerbaijan exported 1 million 697 thousand 768 tones crude oil through Baku-Tbilisi-Ceyhan (BTC) pipeline in January, 2015: according to the CESD report based on State Oil Company of Azerbaijan Republic’s (SOCAR) official figures. Meanwhile, the country exported 169, 507 thousand tones crude oil through Baku Novorosiysk and 254, 107 thousand tones via Baku Supsa pipelines in the indicated... Read More

2015 Growth Forecast for Azerbaijan Adjusted

2015 Growth Forecast for Azerbaijan Adjusted The European Bank for Reconstruction & Development (EBRD) has announced Regional Economic Prospects 2015. The Bank has adjusted its official growth forecast from 3.0 % to 1.5 % in 2015. The Bank has reported that Azerbaijan has “suffered” because of its dependence on hydrocarbons whose prices have fallen. At that, the ERBD is confident in the country’s sustainability to external shocks and... Read More

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy The main goal of the study is to assess how oil price decline in the world market will potentially impact Azerbaijani Economy. The paper specifically looks how last changes in the world market will effect on both revenue and expenditure sides of the state budget. The study also examines “side impact” and “domino effects” of low oil prices. As an oil exporter country Azerbaijan... Read More

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