Consumer Price Growth: A Critical Inflation Indicator - 3,5%

Azerbaijan plans to allocate 7.676 billion manat ($4.5 billion) for the financing of the State Social Protection Fund (SSPF) in 2025, marking a 10.5% rise from the 2024 budget, according to Musa Quliyev, Chairman of the Parliamentary Committee on Labor and Social Policy.

The Baku International Sea Trade Port (BMMTP) will host the construction of a solar photovoltaic (PV) system to supply electricity to a new battery energy storage system (BESS), port officials said.

Leading energy companies TotalEnergies, BP, Shell, and Equinor announced a joint investment commitment of $500 million to accelerate the development of sustainable renewable and alternative energy sources during COP29 in Baku, Turan news agency reported.

Chinese firm Universal International Holdings Limited has secured Azerbaijan's inaugural open international tender for renewable energy projects, marking a significant milestone in the country’s push for sustainable development. The company will construct the Gobustan Solar Power Plant (SPP), a 100 MW facility, by 2027, according to officials.