Azerbaijan's GDP Decreased by 2.5%

Azerbaijan is grappling with a significant rise in its Consumer Price Index (CPI) for August 2024, signaling potential economic challenges that warrant immediate attention from the government.

Azerbaijan experienced a significant increase in food imports during the January-August period of 2024, raising concerns about the nation's domestic agriculture sector and economic resilience.

On Thursday, President Ilham Aliyev spoke at a high-level meeting dedicated to Azerbaijan's economic indicators and future strategies, emphasizing significant growth in the non-oil sector and outlining plans to maintain economic stability by the end of the year.

As part of efforts towards decarbonization, Samira Musayeva, Deputy Head of the State Tax Service at Azerbaijan's Ministry of Economy, met with a delegation from the World Bank during the International Carbon Pricing Forum in Baku. According to the State Tax Service, the meeting focused on exploring various approaches to carbon pricing and promoting sustainable economic development.