Central Bank's decision on the limit of $10,000 on remittances from Azerbaijan demonstrates the government's helplessness in the matter of retaining the currency of the country, said well-known economist Gubad Ibadoglu. According to the decision of the Central Bank, from 8 December residents and non-residents, including entrepreneurs - individuals without opening a bank account can daily transfer into foreign bank accounts no more than $1,000, and total up to $10.000 a month...
Commenting on this decision, the famous economist Gubad Ibadoglu wrote on his profile on Facebook that such limits are for people studying abroad.
"For example, at the Duque University, where I am a professor, tuition and housing costs per year are about $65.000. According to our limit, a parent who has a child studying at the university, must transfer funds during 6.5 months. On the other hand, the freedom of movement of the currency is an important issue for investors, he added. -71D-
Economics
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
-
Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
Leave a review