Expert of the Economic Research Center, Vahid Maharramov, does not doubt a substantial rise in price on imported products. In an interview with Turan, he said that a significant reduction in the rate of manat has already led to a rise in prices of agricultural products. "Due to the fact that such products are purchased in dollars, selling it for the same price cannot be expected to increase by 30-35%. Then on as much as the dollar rose to manat," he said and added that to keep price increases administrative methods fail. These methods will work for several weeks, and then prices will go up or products will disappear, he said. At the same time, may reduce some types of products, but it is possible in the case of falling prices on world markets. At the same time, lower oil prices, has created a new situation in large countries such as China and India. Cheaper oil has allowed these countries to save significant amounts that now they spent on the purchase of energy-dense foods in the world markets. "This was another reason for their increased cost, which will affect all customers, including the market of Azerbaijan," he said. -03B-
Economics
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Azerbaijan’s President Ilham Aliyev has signed a decree approving the "National Strategy for the Efficient Use of Water Resources," aiming to enhance water management and address water scarcity in the country. The decree, based on the Azerbaijani Constitution’s Article 109, mandates the coordination of measures outlined in the strategy by a commission established under a previous presidential decree.
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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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