Amendments to the Law "On the register of real estate" were adopted.
According to the decree of the President, the information system of the state immovable property registry is integrated with analogues of the Central Bank of Azerbaijan, the Financial Market Control House, mortgage funds, banks and other financial organizations.
The deadline for registration of property rights and the provision of extracts from the register is reduced by half - to 10 working days, but on work on inventory and surveying permitted extension for another 5 days (total of two weeks).
There is also a reduction from 5 to 3 working days for consideration of documents for the registration of a mortgage facility, and in the case of suspension of the property rights by the State Register, the period of notice of officials is brought to 7 business days (earlier this was allocated 10 days). --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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