In March, according to State Statistics Committee, 65.2 thousand square meters of housing was put into operation (in March last year – 151,663 sq. m) with the negative difference of almost 2.5 times. These figures are even worse than in January (133.7 thousand) and in February (135.8 thousand sq. m) of 2016.
In general, in the first quarter of 2016 construction companies handed over to customers 334.7 thousand sq. m of housing, which is 19.3% less than the same period last year.
Recall, last year, according to the State Statistics Committee, 1,927.2 thousand sq. m of property was put into operation (-2.7% to 2014). Experts believe that the decline in housing construction is due to the reference of the economy of Azerbaijan to petrodollars. Most construction companies are tied to the officials - oligarchs, because the fall in world oil prices forced them to curtail the work while reducing the number of employees. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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