BAKU / 23.09.16 / TURAN: The presentation of the “strategic roadmap of the national economy and its main sectors” was held.
The Assistant to the President of Azerbaijan on economic reforms, Natig Amirov, speaking in the Presidium of the National Academy of Sciences, called a phased document designed for 10 years inclusive and comprehensive.
According to the President of ANAS, Akif Alizadeh, a country refusing of oil dependence must have a competitive economy, reduce dependence on imports and more actively involve cutting-edge science.
Though mentioned was $ 40 billion of strategic currency reserves, the participants of the discussion agreed on the need to give more freedom to private enterprise. However, the question of choice of the liberal model of economic development is still open. --17D-
Economics
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Azerbaijan's foreign direct investment (FDI) portfolio for the first half of the year continued to be dominated by the oil and gas sector, which attracted 80.4% of the total FDI inflow of $3 billion, according to the Central Bank of Azerbaijan. This reflects a persistent trend of reliance on energy resources, as the country plays a critical role as a key energy producer in the region.
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A Baku seminar titled "Green Building Initiative in Azerbaijan," held on September 12, spotlighted the country’s increasing focus on sustainable construction. Organized by the State Committee for Urban Planning and Architecture, in collaboration with the International Finance Corporation (IFC), the event brought together key stakeholders from both the public and private sectors, reflecting a growing national commitment to environmentally conscious building practices.
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The Central Bank of Azerbaijan (CBA) today held a briefing on the financial results for the first half of 2024, shedding light on the country’s economic health and key indicators influencing its external balance. Samir Nasirov, Director of the CBA Statistics Department, outlined the current account surplus, foreign investments, and other critical metrics during the event.
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On September 11, 2024, Azerbaijan's Economic Council, chaired by Prime Minister Ali Asadov, convened to review the draft state and consolidated budgets for 2025-2028. The meeting, dedicated to key financial and economic issues, addressed global economic trends, macroeconomic forecasts for 2024-2028, and the country’s budget policy for the coming years.
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