Fitch considers the accumulated currency reserves of Azerbaijan help its credit rating. The Senior Director of Fitch, Paul Gamble, said this in an interview with Reuters.
He noted that although the macro-economic situation in the oil-producing and experiencing a currency crisis Azerbaijan cannot be called good, the government deserves credit for maintaining a high volume of assets in foreign currency.
‘The fact that the authorities still have large foreign assets at their disposal is important for the (credit) rating,’ Gamble said. -----71D
Economics
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
-
Azerbaijan’s labor market has expanded, with the total number of employees in the country’s economy reaching 1.78 million as of early January 2025, according to preliminary data from the State Statistics Committee. The data reveals a nearly equal distribution of employment between the public and private sectors, with 882,800 people working in state-run institutions and 895,700 in the non-public sector.
-
Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
Leave a review