Central Bank of Azerbaijan’s Foreign Exchange Reserves: A Balancing Act Between Support and Stability

Meat production in Azerbaijan increased to 491,400 tons in live weight from January to October 2024, up 1.2% compared to the same period last year, according to the State Statistics Committee. However, this growth, combined with a sharp rise in meat imports, has done little to stabilize high meat prices, which have been steadily climbing over the past 10 months, notes agricultural expert Vahid Maharramov.

The International Bank of Azerbaijan (IBA) will hold an online shareholders' meeting on Dec. 13 to vote on increasing the bank's charter capital, approving a revised charter, and establishing a new innovative subsidiary, the bank said in a statement.

On December 10, President Ilham Aliyev of Azerbaijan has signed a decree amending the 2014 presidential order on the management of the Shah Deniz Phase 2 gas-condensate field and Southern Gas Corridor (SGC) projects, granting the State Oil Company of Azerbaijan (SOCAR) expanded control to ensure financial consolidation.

In the period from January to November 2024, Azerbaijan's exports not related to oil and gas increased by 1.9% compared to the same period in 2023, reaching a total value of $3.1 billion. This growth, noted in the latest "Export Survey" published by the Center for Analysis and Communication of Economic Reforms, reflects the country's diverse and expanding export portfolio.