Buyers of Russian Gas Seek to Extend Transit via Ukraine into 2025

Azerbaijan has launched the "Fast Pass Card" for users of the Baku-Quba-Russia border toll road, the State Agency for Azerbaijan Highways announced on Monday.

Azerbaijan’s foreign trade turnover amounted to $43.11 billion during the first 11 months of 2024, reflecting an 8.9% year-on-year decline, according to data released by the State Customs Committee (DGK). The figures highlight a sharp contraction in exports and a notable increase in imports, reshaping the country’s trade dynamics.

Azerbaijan’s annual inflation rate stood at 4.4% in November 2024, marking a steady position within the Central Bank’s target range of 4% ±2%. The Central Bank of Azerbaijan (CBA) highlighted the subdued inflation in food (4.4%) and non-food items (2.2%), coupled with a slightly higher rise in services (6%), as pivotal in maintaining inflation stability.

As part of efforts to improve infrastructure and governance in the liberated territories, the Cabinet of Ministers of Azerbaijan adopted a resolution on December 17 to create the "Kalbajar Reconstruction, Construction, and Management Service." This new public legal entity is tasked with overseeing the reconstruction of the strategically significant Kalbajar region. The decision aligns with President Ilham Aliyev's decree issued on July 10, 2024.