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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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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