El Gorchi New Head of IMF Mission in Azerbaijan
The new head of the mission of the International Monetary Fund (IMF) in Azerbaijan is a citizen of the Kingdom of Morocco Mohamed El Gorchi. In this position he was succeeded by Raja Al Marzugi.
The new head of the IMF mission started to work on December 1, as the IMF has officially notified the Minister of Finance Samir Sharifov and the Chairman of the Central Bank of Republic of Azerbaijan Elman Rustamov. --17D-
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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