Half of the sum for the financing of its share in the project Southern Gas Corridor, which is $ 7 billion, Azerbaijan intends to attract as loans, said today the deputy head of SOCAR Investment Department Zaur Gahramanov.
According to him, the total cost of laying the pipe will be $ 45 billion, of which $ 14 billion falls on Azerbaijan. In this connection, negotiations are underway with the European Bank for Reconstruction and Development, the International Finance Corporation and the European Investment Bank.
Recall, the main components of the Southern Gas Corridor are Stage 2 of Shah Deniz project, the expansion of the South Caucasus Pipeline Baku-Georgia-border with Turkey, the construction of Trans-Anatolian gas pipeline (TANAP) from the eastern to the western border of Turkey and the Trans Adriatic Pipeline (TAP), linking Greece, Albania and the Adriatic Sea to southern Italy.
It is supposed to deliver 16 billion cubic meters of gas, of which 10 billion cubic meters are for Europe and 6 billion – for the western regions of Turkey. --17D-
Economics
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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Azerbaijan has temporarily suspended the import of cattle, poultry, and related products from several regions following outbreaks of foot-and-mouth disease and highly pathogenic avian influenza in Europe, the Middle East, and Africa, the country's Food Safety Agency (AQTA) reported.
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