The share of foreign direct investment in non-oil sector of Azerbaijan's economy amounted to 11.8%, down 20.7% compared with the first three quarters of last year - to $ 678 million.
The main foreign infusion, according to a report of balance of payments, fell on oil and gas. The total is their volume was at $ 5.8 billion., - The information on the website of the Central Bank of Azerbaijan.
Local companies also invested in projects in the form of foreign direct investment of $ 2 billion. 623.6 million, including $ 1 billion. 424 400 000. - In oil and gas.
Recall the structure of the balance of payments changed from 2013 in accordance with the recommendations of the International Monetary Fund (IMF) and now consists of net financial assets and liabilities.
Net financial assets as of 1 October were at $ 9 billion. 731.2 million., The obligation - to $ 3 billion. 731.2 million. --17D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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