Main Department for Combating Corruption under the Prosecutor General of Azerbaijan has completed the investigation of the criminal case against Mugayis Verdiyev who did not pay 59,000 manat to individuals, from whom he bought building materials for the needs of the construction company Fagan Khidmet in the Goranboy region.
He is also charged with misappropriation 21,138 manat intended to pay 27 builders. Furthermore, the accused evaded the payment of taxes as an individual in the amount of 7,298 manats. Verdiyev is prosecuted under Art. 178.3.2 (fraud) and 179.3.2 and 213.1 (tax evasion) of the Criminal Code, and his arrest is recognized fair measure of restraint.
Materials of the case have been transferred to the Ganja Court on Grave Crimes. -17D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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