
Azerbaijani government fully sent in its resignation
Today the Cabinet of Ministers of Azerbaijan has sent in its resignation. This is connected with commencement of execution of duties by Ilham Aliyev as President of Azerbaijan Republic (his third presidential term).
According to the article 116 of the Azerbaijan Constitution, since beginning of execution of duties by the newly elected president the Cabinet of Ministers must send in its resignation.
The Azerbaijan Cabinet of Ministers consists of 45 agencies: 20 Ministries, 12 state committees, 4 state agencies, 2 state administrations, 3 state services, 2 state commissions and 1 national administration.
The former head of the Cabinet of Ministers Artur Rasizada, who now acts as Premier, headed the government since 1996.—0—
Economics
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The EBITDA (earnings before interest, taxes, depreciation, and amortization) of the State Oil Company of Azerbaijan (SOCAR) has been declining in recent years, as reflected in reports by international rating agencies and the company’s own financial statements. SOCAR’s financial report for 2024 is expected in the summer of 2025, but preliminary data from Fitch Ratings indicates a further decline in the figure.
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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