Foreign exchange reserves of the Central Bank of Azerbaijan as of 1 December amounted to $ 14.996 billion against $ 15,033,600,000 as of 1 November, which means drop in for a month. The downward trend is stable – as of October 1 it was $ 15,042,400,000, as of September 1 - $ 15,190,900,000, and as of August 1 - $ 15,193,400,000.
According to forecasts, by the end of this year, the foreign exchange reserves would be $ 16 billion, but it seems that expectations will not come true. --17D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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