Azerbaijan's GDP Decreased by 3.9%

Orhan Nazarli, Head of the State Tax Service under the Ministry of Economy of Azerbaijan, met with Margaret Cotton, Deputy Head of the Revenue Administration of the International Monetary Fund (IMF), during the International Carbon Pricing Forum held in Baku. The forum, co-organized by the State Tax Service and the Intra-European Organization of Tax Administrations (IOTA), took place from September 25 to 26.

The Board of Directors of SOCAR Turkey convened in Istanbul to review current projects and growth strategies, the company reported on Saturday. The meeting was chaired by Rovshan Najaf, President of SOCAR and Chairman of the Board of Directors of SOCAR Turkey, and attended by board members and members of the Executive Board.

The Baku Climate Action Week is currently taking place in the capital of Azerbaijan, serving as a prelude to COP29, where Azerbaijan aims to solidify its role as a regional leader in green energy initiatives by leveraging its strategic position to advance the global climate agenda.

The minimum wage in Azerbaijan, currently set at 345 manats, will be increased at the beginning of 2025 to meet the country’s international obligations. This was announced by economist and Member of Parliament Ali Mansimli during an interview with TV channel "24". According to him, the current minimum wage level does not meet the requirements of several international documents, which state that the minimum wage should be at least 60% of the average salary, which is 1000 manats. This means that the minimum wage in Azerbaijan should be 600 manats; however, it currently stands at only 34% of the average salary.