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

Azerbaijan Economy in the first two months of 2017; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first two months of 2017. Both independent and official reports show that GDP slightly increased in the reporting period. According to the State Statistic Committee of Azerbaijan, GDP increased by 0.4 % in the first two months of 2017 compared with the period of 2016 since CESD calculations... Read More

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

Azerbaijan Economy in the First Eight Months of 2016; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first eight 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 3.1 % in the first eight months in 2016 since CESD calculations found out 3.9 % decline... Read More

State Budget for 2016 in Azerbaijan: a New Approach in a New Period?

State Budget for 2016 in Azerbaijan: a New Approach in a New Period? The draft of state budget of 2016 has been discussed and approved by the Cabinet of Ministers of Azerbaijan Republic. According to the CESD sources, a price of oil will be $ 50 US per barrel at the 2016 budget. That means oil price in next year’s budget will be decreased by $ 40 per barrel or 55 % compared to the 2015 state budget… Download Full Article Here  Read More

Azerbaijan Oil Fund Lost $ 2.3 million US in light of the Ukraine Crisis

Azerbaijan Oil Fund Lost $ 2.3 million US in light of the Ukraine Crisis The State Oil Fund of Azerbaijan (SOFAZ) suffered investment losses due to the events that took place in Ukraine. According to SOFAZ, budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-March, 2014 reached 3.005 billion manat ($ 3.85 billion US), while budget expenditures constituted 2.443 billion manat ($ 3.13 billion US) meaning that the budget... Read More

Azerbaijan Economy; Brief Overview for 2013 and Perspectives for 2014

Azerbaijan Economy; Brief Overview for 2013 and Perspectives for 2014 CESD- Center for Economic and Social Development, developed brief presentation on Azerbaijan Economy in 2013 and expectations from 2014. Download Full Azerbaijan Economy_2013_2014 Presentation File Here  Read More

Azerbaijan State Budget for 2014: Brief Description

Azerbaijan State Budget for 2014: Brief Description The Main Trends for the Azerbaijan State Budget for 2014 are followings: it is a first time in the last decade that the State Budget incomes will decrease in 2014; transfers from State Oil Fund to The State Budget will be decreased by 17.7% or 2.013 billion manat ($ 2, 58 billion US); it is the first time that the share of budget deficit will increase to 3% in GDP; the dependence of the State Budget... Read More

Azerbaijan State Budget’s SOFAZ Dependency

Azerbaijan State Budget’s SOFAZ Dependency $ 45 billion oil money spent through state budget channels last couple years   Since the launch of the State Oil Fund of Azerbaijan (SOFAZ), the fund’s expenditures amounted to AZN 38.789 billion ($ 49,730 billion).  Transfers to the state budget reached to AZN 35.085 billion ($ 44,980  billion) within the last couple years. Meanwhile, the fund issued AZN 297.9m for project of construction... Read More

2013 Draft Budget is on Azerbaijani Parliament’s Agenda

2013 Draft Budget is on Azerbaijani Parliament’s Agenda The Azerbaijani Parliament in its plenary meetings on 13, 14 and 15 November will consider the draft law “On the State Budget of the Republic of Azerbaijan in 2013”. According to the Parliament, the agenda of the next three plenary sessions also includes the bill on the budget of the State Social Protection Fund of Azerbaijan in 2013, the cost of living and the criteria of need... Read More

How Will Oil Price Impact on Azeri State Budget?

How Will Oil Price Impact on Azeri State Budget? Cheapening of oil price in world markets does not create a threat for state budget of Azerbaijan, Deputy Finance Minister Azer Bayramov said. To him, base price of oil in the budget (100 dollar/barrel) is average annual price. ‘At present, average annual price of oil is not lower from the level considered in the budget’, he said, APA reports. Note that, as of the beginning of 2012, price of Azeri... Read More

Azerbaijan revises oil prices forecast in 2012-state budget

Azerbaijan revises oil prices forecast in 2012-state budget Rising oil prices on world markets contributes to increase in the income of the State Oil Fund of Azerbaijan (SOFAZ) additionally by 3.625 billion manat, which will increase incomes of the consolidated budget for 2012 by 19.9 percent, Azerbaijani Finance Minister Samir Sharifov said on Saturday at the meeting of the Parliamentary Committee on economic policy during the debate of the bill... Read More

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