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Azerbaijan’s Hydrocarbon Revenues: A Deceptive Boom in 2023


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In 2023, Azerbaijan reported a net income of 14 billion 519 million manats ($8 billion 540.6 million) from the sale of hydrocarbons, according to the Accounting Chamber’s report titled “Audit of the formation and use of funds of the State Oil Fund in the main directions.” This report, stemming from…