In Davos, Switzerland, started a four-day 45th World Economic Forum (WEF) under the slogan "The new global context." It is attended by 2.5 thousand representatives of public, private and non-profit organizations. The founder and chairman of the Forum, Klaus Schwab, said before the opening that, taking into account the presence in Davos of almost all conflict parties in the world , the forum can achieved important results in terms of confidence-building measures, and perhaps even reconciliation. "In my opinion, in 2015, we stand at a crossroads. There is a road of destruction integration path of hatred, fundamentalism, on the other hand - the path of solidarity and cooperation, "he said.
"The new global context" provides the impact of geopolitical conflicts on the economic situation, including the fall in oil prices, the new situation on the energy market, the problems in the banking sector, the prospects for the financial system, the crisis in the European zone, lack of resources, the future of the Internet, the fight against corruption, climate change everywhere growing social inequality, recently, according to Oxfam, becomes rampant. By 2016, only one percent of the world's population will have wealth in excess of the status of all the other people on the planet combined.
The International Monetary Fund Forum has released an updated outlook for the global economy in 2015. It will grow by 3.5 percent, and the leaders, as usual, are the developing countries (4.3 percent). In October, the IMF has promised a more solid growth. Downward revision of forecasts for all the world's leading economies, except the United States.
At the Forum traditionally participates Azerbaijani President Ilham Aliyev. He will make a presentation on January 22 at the session of "Regions in Transformation: Eurasia", which includes issues of attracting long-term investments, including cross-regional trade, security. There will be also separate meetings of Aliyev with a number of participants of the WEF.-0-
Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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