The head of the Central Bank (CBA) Elman Rustamov reiterated that new devaluation in Azerbaijan will not happen.
"The manat has become stronger to foreign currencies in recent days. Furthermore, the budget includes a real oil price ($ 25). The price of oil is low, but stable. After the transition to a floating AZN exchange rate, there is no problem. Therefore, for any third devaluation there is no reason," Rustamov said in an interview with reporters.
Recall that on the eve of the two previous devaluations Rustamov also refuted the upcoming depreciation of the national currency, assuring that the situation is under control. However, in 2015 the manat fell twofold to the US dollar. -02D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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