Central Bank of Azerbaijan Encourages Long-Term Savings with Tax Incentives

The second day of the "Fintex Summit" in Baku was dedicated to cybersecurity, reporting and controls in Azerbaijan's rapidly growing fintech sector.

Azerbaijan conducted foreign trade operations worth $13.63 billion in the January-April period of this year, according to the State Customs Committee. This represents a 23.8% decrease compared to the same period last year.

A Belarusian governmental and industrial delegation is actively negotiating and expanding cooperation in agricultural and food supplies at the 17th Azerbaijan International Exhibition "Agriculture" - Caspian Agro and the 29th Azerbaijan International Exhibition "Food Industry" – InterFood Azerbaijan.

The Azerbaijani press publishes articles leading the reader to believe that petrol is cheap in our country. Usually a wave of such publications precedes the next rise in the price of fuel.  Readers are told the ‘average cost of petrol’ in another country, consisting of the prices of petrol of all popular brands, and compare the average figure with the cost of cheap Azerbaijani AI-92 petrol. Some years it is sold at the price of 1 manat per litre, and the next best quality petrol of AI-96 brand in Azerbaijan is twice as expensive - 2 manats per litre, although the quality and energy content of fuel of this brand is not twice as good. The most common way to create an illusion of prosperity in the fuel market in our country is to ignore the criterion of purchasing power of Azerbaijanis correlated with the average salary in the country. In this article Turan will compare the ability of citizens of several countries, including Azerbaijan, to buy AI-92 (Regular) petrol on one average salary.