The volume of foreign investment in the capitalization of the Azerbaijani economy by 1 August exceeded the proportion of local financial investments, amounting to 61.8% or 4 billion 923.1 million manat (61.85% of all investments). On the account of the internal injection 38.15% of the total $ 7 billion. 959.7 million manat (minus 29.7% compared with the same indicator of January-July of last year.)
According to the data of State Statistics Committee on the results of the past seven months, four-fifths of the mentioned funds (6 billion 460.4 million) were invested in the production, and 1billion 175.9 million - in the construction of services, and only 323 400 000 manat - in the construction of housing. Nearly three-quarters (72.3%) of all financial investments - for the private sector, the remaining 2 billion 204.8 million manat spent the state. --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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