Economics
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In July 2024, Baku saw a 2% increase in the average price of a consumer basket of 30 basic food products, according to Turan agency data. This follows a decrease in June.
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According to Turan monitoring, in July, Baku experienced a 2% increase in construction material prices, driven by significant inflationary trends.
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The World Bank (WB) has proposed increasing funding for renewable energy projects in Azerbaijan following recent consultations between the bank and the Azerbaijani government. The proposed project aims to allocate approximately $380 million to improve energy transmission and integrate large-scale renewable energy sources into the country's energy system.
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The State Statistics Committee of Azerbaijan has announced amendments to the official statistical reporting form on social benefits, compensations, and pensions, according to a decree issued on July 25, 2024. This decision, intended to enhance the accuracy of statistical data, was made in line with recent legislative changes affecting social benefits.
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