The State Oil Fund of Azerbaijan is preparing for its 20th anniversary. However, there is nothing to celebrate: despite huge spending, the country's role as an economic leader in the region is declining and people are suffering from poverty and poor social services. Oil and gas revenues have...

In November 1997, the first oil was extracted as a result of joint exploration activities conditioned by the “Contract of the Century” and a bit later Azerbaijan started to get her profit oil, and subsequently oil dollars, from those activities. But even before the oil money entered the...

This policy paper is an assessment of the current situation in management of oil revenues in Azerbaijan in order to find solutions for improving it. This policy paper is the result of research conducted by the research team of Economic Research Center with the financial support of Revenue Watch...

Azerbaijan's government established a national oil fund in 1999 to address the challenges associated with oil-rich countries, such as addressing revenue fluctuations, saving for future generations and investing in development. However, as described in precept 7 of the Natural Resource Charter, a...

A significant share of the state budget of Azerbaijan is spent on the welfare of those participating in repressions and falsification of elections. Thus, the regime puts these groups under its control and increases the repressive impacts of oil revenues