. As of October 24th, Azerbaijan picked 41.8 thousand tons of cotton, 1.6 times more than in the comparable period of 2015, according to the weekly report by the State Statistics Committee.
The cotton growers of the Saatli region are the leaders. They passed the ginneries 6,354 tons of "white gold" as it is called again in Azerbaijan, following the example of the Soviet era, after the "dark days" of oil, the lower prices for which made life difficult for Azerbaijan.
This year, cotton was planted on more than 52 thousand hectares, 2.8 times more than in 2015. The government expects to collect 20 quintals of raw cotton per hectare. However, the cotton harvest started late and the weather does not help its rapid completion.
The purchasing prices of cotton in Azerbaijan are up to AZN 400-500 per 1 ton this year. In addition, farmers receive from the state AZN 90 per hectare of cultivated land and AZN 100 per ton for the raw cotton passed to the ginneries. However, independent experts say cotton is not the most suitable product that could replace oil revenues and provide employment and a decent life in the rural regions. ----08B
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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