According to the report of the Azerbaijan State Statistical Committee, in January and February 2016 1,392,000,000 AZN has been invested into the oil and gas industry of the country, up 55.7% against the same period last year.
The Committee reported that during this period the amount of foreign investments into Azerbaijan’s main capital totaled 1,241,100,000 AZN, up 53% against the same period last year.
At present the main foreign investments implemented in Azerbaijan are directed to the upstream projects, including Shah Stream and Southern Gas Corridor (construction of the gas pipeline in Azerbaijan is in progress, the Sangachal gas terminal is expanded and etc.)—0—
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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