The Asian Development Bank is ready to cooperate in the direction of recovery of the financial sector of Azerbaijan. This was said by the ADB Executive Director Matthew Fox at a meeting with the members of the Board of Directors of the Financial Market Control House (FMCH) in Baku on 13 June.
As Turan was told at the FMCH press service, the ADB delegation discussed measures to be taken in cooperation with FMCH.
Matthew Fox said he supported the ongoing reforms in Azerbaijan, as well as measures to strengthen the stability of the financial sector. --08D--
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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