Global diesel fuel prices have risen sharply - Azerbaijan benefits

The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.

Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.

Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.

The Asian Development Bank (ADB) has introduced its Framework Partnership Program for 2025–2029 during a high-level meeting with the Central Bank of Azerbaijan (CBA). The meeting, which was attended by CBA First Deputy Chairman Aliyar Mammadyarov and ADB Country Director for Azerbaijan Sunni Duranni-Jamal, highlighted strategic initiatives aimed at fostering economic transformation and sustainable growth.