Deficit in the balance of travel services for the three quarters reached 300 million U.S. dollars
Travel services for a total of $ 1.5 billion were provided to foreigners in Azerbaijan in January-September 2012. This is $ 667 million, or by 80.1% more than in the corresponding period last year.
Of the total volume of exports of tourism services 32.6% were non-residents costs incurred in the course of business travel to Azerbaijan.
In turn, according to the balance of payments, the amount of travel services provided to residents of Azerbaijan abroad, for the period increased by $ 648.7 million or 56.3% to $ 1.8 billion, of which 63.2% was spent in private foreign travel. - 15B -
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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