In four months of 2016, GDP in Azerbaijan amounted to 16 billion 868 million manats, which in comparable prices lags 4.5% behind the figure for the same period of 2015.
According to State Statistics Committee, the share of the non-oil sector accounts for 61.5% of GDP. At the same time, due to the fall in activity in construction and transport, manufacturing GDP in the non-oil sector fell by 6.8%.
GDP per capita in Azerbaijan for four months amounted to 1,756.7 manats, by 5.6% less than in the comparable period last year. In dollar terms, this equals $ 1122.6.
According to government forecasts, with which the IMF and the World Bank agree, the volume of Azerbaijan's GDP will decline by 3% in 2016. ---08B
Economics
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Azerbaijan's National Depository Center (NDC) has announced a series of strategic goals and digital innovations for 2024-2026, aimed at fostering trust, expanding market access, and diversifying investment instruments in the country’s capital markets.
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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