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Friday, October 19, 2018

Azerbaijan Finance Ministry to review state capital investments

The Azerbaijani Ministry of Finance recently revealed that it is going to assess the efficiency of state capital investments.

"It should be noted that the state does not expect the direct effect from certain investments, such as infrastructure construction, reclamation facilities, educational institutions," Azerbaijani Finance Minister Samir Sharifov said. "These are the projects from which the state does not expect direct benefits, though indirectly with improvement of these conditions in the future it will be guaranteed quality agricultural, educational, transport and other policy."

Azerbaijan completed its post-Soviet transition into a major oil based economy with the completion of the Baku-Tbilisi-Ceyhan Pipeline, a 1,768 kilometer long crude oil pipeline from the Azeri-Chirag-Guneshli oil field in the Caspian Sea to the Mediterranean Sea, that opened on May 25, 2005.

Azerbaijan is the largest country in the Caucasus region, located at the crossroads of Western Asia and Eastern Europe.