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Azerbaijani Oil Income in February 2017

The State Oil Company of Azerbaijan Republic (SOCAR) reports that the company exported 79,841 thousand tons of crude oil from the Russian port of Novorossiysk, 349,272 thousand tons of crude oil from the Georgian port of Supsa and 1,323 million tonnes of crude oil from the Turkish port of Ceyhan in February 2017. According to the SOCAR’s report 159,777 thousand tons of crude oil were exported from the Russian port of Novorossiysk, 525,382 thousand tons of crude oil from the Georgian port of Supsa and 2,721 million tons of crude oil from the Turkish port of Ceyhan during January-February 2017.

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FED’s interest rate: Causes and Implications for Azerbaijan

The decision of the The Federal Reserve System (FED) of the USA has been among the most important economic news during the previous week. That is to say, following the long-term expectations, FED raised interest rates by 0.25 percentage points (making it 0.75%) . The decision of FED, which is to pose a serious impact on the future exchange rate of dollar, has been long waited in Azerbaijan as well.

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

CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first eleven 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 eleven months in 2016 since CESD calculations found out 4.4 % decline in the economy. According to the State Statistic Committee reports, the main reason of economic slowdown was economic decline in the construction sector. The committee has reported that 54.42 billion manat ($ 30.92 billion US, with current official rate) GDP was produced in the indicated period.

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Foreign debt in Azerbaijan: realities and perspectives

According to the Ministry of Finance of Azerbaijan Republic, the external public debt of the country constituted $ 7,651 billion US (12,402 billion manat) in October 2016. The ministry has reported that the debt to the Gross Domestic Product (GDP) ratio stands at 20.1 percent. The external public debt consists of direct obligations of the state as well as contingent liabilities emanating from sovereign guarantees.

The CESD calculations show that the foreign debt of Azerbaijan is higher than the figure has reported by the Ministry of Finance of Azerbaijan. Based on the anonymous survey among CESD’s contacts in the government show that Azerbaijani real foreign debt is double digit billions dollar. That also means that the foreign debt’s share in the GDP in reality is higher than the official figure.

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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 and the quality of service has been improved. Observations show that, in most cases, multi-person households are usually the households with low income due to various reasons and social difficulties. Hence, the social impact of new tariff implementation must be accurately specified and employed criteria must be reconsidered…

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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 State Statistic Committee reports, the main reason of economic slowdown was economic decline in the construction sector. The committee has reported that 49.2 billion manat ($ 24.6 billion US, with current rate) GDP was produced in the indicated period…

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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 in September), Baku-Supsa – 267,643 tons (274,705 tons), and Baku-Tbilisi-Ceyhan (BTC) n.a. Heydar Aliyev oil pipeline – 1.669 million tons (942,882 tons).

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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 in the economy. According to the State Statistic Committee reports, the main reason of economic slowdown was economic decline in the construction sector. The committee has reported that 38,027 billion manat ($23.32 billion US) GDP was produced in the indicated period.

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Center for Economic and Social Development

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(99412) 5943665
info@cesd.az

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