Azerbaijani Central Bank in the first quarter said a negative balance of payments of the country.
According to its statements, the current account deficit by April 1 amounted to $ 432.151 million, driven by the export of capital out of the country. Without taking into account this factor, the deficit would be much less - at the level of $ 77,740,000. Basic capital outflows culprit is the oil and gas sector, which accounts for $ 384,336,000 withdrawn for the implementation of international initiatives.
Recall, as of 1 April last year, the trade surplus amounted to $ 621 million 706 thousand (including $ 1 billion 552 million 333 thousand in oil revenues). --17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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Данная инициатива направлена на цифровизацию процессов управления в сфере безопасности пищевых продуктов в Азербайджане, создание более эффективной и прозрачной системы за счет применения современных технологий.
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Azerbaijan’s President Ilham Aliyev has signed a decree confirming an agreement between the governments of Azerbaijan and Russia aimed at boosting transit cargo shipments along the "North-South" international transport corridor.
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