The state budget of Azerbaijan for 2022 is based on the oil price of $ 45/bbl
The government of Azerbaijan predicts state budget revenues for 2022 at the level of 26 billion 407 million manats (an increase of 8.6% compared to…
Azerbaijan’s foreign exchange reserves have grown to $52.3 bn since the beginning of the year
Azerbaijan’s strategic foreign exchange reserves have increased by 2.8% since the beginning of 2021, to $52.3 billion, the Central Bank reports. According to the CBA,…
President Aliyev: Era of End of Monopolies Comes in Azerbaijan’s Economy
President of Azerbaijan Ilham Aliyev believes that a new era has begun in the country’s economy – transparency and the end of monopolies “As for…
Azerbaijan Lays Oil Price in Budget for 2021 at $ 40 per Barrel
The Azerbaijani government has revised the forecast oil price in the state budget for 2021 and increased it to $ 40 per barrel “The draft…
Fitch Expects Azerbaijan’s Economy to Grow, Increase in Karabakh Recovery Spending in 2021
The international rating agency Fitch Ratings predicts a decline in Azerbaijan’s GDP in 2020 at 4.3% Earlier in July, Fitch predicted a 4.2% decline in…
SOFAZ to Spend $437 mln on Construction of Oil Refinery
On October 4, Azerbaijani President Ilham Aliyev approved changes in the budget of the State Oil Fund (SOFAZ) of Azerbaijan for 2017. According to the…
Increase in Oil Prices to Accelerate Economic Growth in Azerbaijan-Moody`s
Higher oil prices will accelerate the economic recovery of Azerbaijan, analyst, Junior Vice-President of the rating agency Moody’s Peter Paklin said. “According to our estimates,…