In the first quarter of 2015 the Georgian economy was invested $ 175 million of direct foreign investment, of which $ 59 million, or 34% falls on the share of Azerbaijan, reported the National Statistics Office of Georgia.
Compared with the same period in 2014 ($ 265 million), direct foreign investment in Georgia fell by a third, while investors from Azerbaijan increased activity compared to the first quarter last year by 25.5%. Thus, Azerbaijan has occupied the leading position in terms of investment in the Georgian economy, ahead of investors from Turkey (US $ 27 million) and Russia ($ 23 million). Investments were directed mainly in the sphere of transport and telecommunications.
According to official data in 2013 and 2014, Azerbaijan invested in Georgia's economy $ 82 million and $ 303 million as direct investment. ----08B
Economics
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In Baku, grappling with growing environmental challenges, experts and policymakers convened on Friday for an international scientific conference titled “Sustainable Environment: Transition to Green Energy.” The event highlighted the urgent need for innovative strategies to combat pollution and advance renewable energy initiatives.
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Kazakhstan is set to increase its oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline by 5.1% in 2024, reflecting growing regional cooperation and diversification in energy routes. According to figures obtained by Turan News Agency, the total volume of Kazakh oil transiting through the BTC pipeline is projected to exceed 1.464 million tons, up from 1.392 million tons in 2023.
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In a groundbreaking development for Azerbaijan’s energy sector, GL Group, a prominent Azerbaijani oil company, has announced plans to drill the country’s first horizontal well on land, reaching a depth of 4,400 meters with a lateral section of approximately 400 meters. The project, a milestone in the region’s oil exploration history, is set to take place at the Kirsangi-Garabaghly onshore fields.
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The Central Bank of Azerbaijan (CBA) forecasts an annual inflation rate of 5.1% by the end of 2024, comfortably within the target range of 4% ± 2%. However, recent data indicate that inflationary pressure has significantly eased over the year: in October, the inflation rate stood at 3.4%, slightly down from 3.5% in September. Official data for November have not yet been released, leaving room for speculation about possible year-end adjustments.
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