In the past year, for the solution of social problems of IDP there was allocated 630 million manat, of which 273 million AZN was from the state budget, 300 million AZN was from SOFAR and 57 million AZN was from international humanitarian and other organizations. As the Vice-Premier, Chairman of the State Committee for Refugees and IDPs Ali Hasanov said at the meeting of the Cabinet of Ministers for the year's results, each refugee and IDP got 1,170 manat.
During the year, 632 families in the Agdam region, 320 in the Beylagan region, 101 in the Hajigabul region, 600 in Ganja, 230 in the Saatli region, 594 in Mingachevir, 45 in the Balakan region, 160 in the Absheron region, etc. were relocated to new settlements, residential complexes or private homes, and equipped with all the social and technical infrastructure.
Under the loan agreement between the World Bank and the Azerbaijani government 520 micro-projects worth 30 million AZN were carried out, which benefited 30,000 people. --17D-
Economics
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The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
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Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
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Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
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The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
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