Economics
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Uzbekistan, a key player in the Central Asian energy market, considers Europe as the main destination for its growing electricity exports, Deputy Energy Minister Umid Mamadaminov confirmed.
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Executives of two prominent insurance companies in Azerbaijan, JSC "PASHA Insurance" and JSC "Ateshgah Hayat," faced penalties imposed by the Central Bank of Azerbaijan (CBA) for regulatory violations.
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AzerGold Closed Joint Stock Company (CJSC) has presented a new gold coin made of 999.9 carat gold.
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The Azerbaijani manat maintains an exchange rate of 1.7 to dollar since the spring of 2017. At that time, the Central Bank of Azerbaijan announced that they had let the currency exchange rate float freely, and promised to carry out interventions only to prevent short-term volatility. Since then, the currency interventions have not stopped, the exchange rate remains at 1.7. However, foreign exchange receipts to the treasury from the sale of energy resources are steadily falling, and this worries economists: how long will the manat keep the rate that has become familiar to us - 1.7?
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