The Economy of Azerbaijan in 2017: Assessment and Recommendations

The Economy of Azerbaijan in 2017: Assessment and Recommendations The year 2017 posed severe challenges for the economy of Azerbaijan, as it experienced a 3.1% decline in 2016, its first negative GDP growth since 1995. According to initial estimations of EBRD, the economy was expected to experience another negative GDP growth equal to 0.5% in 2017. However, The State Committee of Azerbaijan Republic has announced 0.1 % positive growth in GDP in 2017.... Read More

Oil Production Down, Revenue Increase

Oil Production Down, Revenue Increase Export of Azerbaijani oil products amounted to 1.4 billion manat in 2011, which is 176.2 million manat more than in 2010. It was stated in a government report on the results of 2011, presented to the Parliament. According to the report, the country exported about two million tons of petroleum products only in 2011. Around 3.69 million tons of oil has been sold on the domestic market of Azerbaijan in 2011, which... Read More

How much money Azerbaijan Oil Fund has?

How much money Azerbaijan Oil Fund has? Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2011 reached 15 628.3 million mantas or 19 875.7 million dollars, while budget expenditures constituted 9 606.6 mln. Mantas or 12 217.4 million dollars. Revenue of 15 451.9 mln. manats or 19 651.4 million dollars was received from implementation of oil and gas agreements, including 15 257.5... Read More