The next session of the Azerbaijani parliament has started. On the agenda there are 21 questions. Among the most important economic bloc there are amendments to the Laws of AR "On food", "On banks", "On aquaculture", "On non-polluting agricultural products", "On State Duty", "On the Central Bank of the Republic of Azerbaijan", "On Grain" and other documents.
The most interesting changes are to the Customs Code. Now the customs officers will be required to return the documents seized from the owner of the goods not within three days, as before, but one day. In addition, the clearance of imported goods will take up to two days. And the customs officers are now deprived of the right to accompany the goods that have aroused suspicion in the inspection. --17D-
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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