Market

CBA starts implementation of more than 30 projects

Baku: Nijat Mustafayev; Economics. Central Bank of Azerbaijan has started implementation of more than 30 projects within its Strategic Plan, said the CB Deputy Chairman Khagani Abdullayev. According to him, CB has Strategic Plan covering 2011-2014 and this Plan includes 9 purposes, 7 Act Plan and more than 30 projects: “these projects have already been […]

Market

SOFAR to finance TANAP construction

Baku: Ali Ahmedov ; Economics. State Oil Fund of Azerbaijan will invest funds in construction of Trans Anatolia Pipeline, said the SOFAR Executive Director Shahmar Movsumov. According to him, SOFAR’s presence in TANAP construction is being discussed: “This is very important project and it is not excluded usage of SOFAR funds for this project. This […]

Miscellaneous

Shahmar Movsumov: “Azerbaijan’s budget does not already depend on oil price”

Baku: Ali Ahmedov ; Economics. World oil price unambiguously influences the State Oil Fund of Azerbaijan’s incomes, but state budget does not depend on oil price, said the Executive Director of SOFAR Shahmar Movsumov. According to him, average oil price is above $100: “The economy does not already depend on oil price. It’s possible oil […]

Market

SOFAR’s assets approach to $33 bln

Baku: Nijat Mustafayev ; Economics. Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2012 reached 7 391.9 million manats, while budget expenditures constituted 4 878.1 mln. manats. Revenue of 7 099.8 mln. manats was received from implementation of oil and gas agreements, including 7 091.4 […]