Ilham Aliyev signed a decree on the establishment of the Financial Stability Board. The text of the document was published on the website of the President, said that this structure is created in order to "minimize the impact of negative processes occurring in the world in the light of the global crisis," "creating a favorable economic environment," "trust in the banking system", "profitable conditions for entrepreneurs. "
The news structure has been created to "ensure that all of these conditions and to coordinate measures taken" and create a new structure, which will be headed by Prime Minister Artur Rasizade, said the decree.
Besides him, the Board included: Natig Amirov - Assistant to the President for Economic Reforms;
Samir Sharifov - Minister of Finance;
Shahin Mustafayev - Minister of Economic Development;
Elman Rustamov - Head of the National Bank;
Rufat Aslanli - the head of the Chamber of Control for the financial markets;
Shahmar Movsumov - head of the State Oil Fund.
Within a month the Council is to prepare an analysis of the financial system and the country's market conduct examination of legislation in this area, to make proposals to pre-empt possible negative effects in the financial sector, taking into account international experience.
To report to the Head of State on these matters at the end of each quarter.-02D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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