Government discussed ways to solve transport iswsues in Baku

The Central Bank of Azerbaijan (CBA) has revised its inflation forecast downward for 2024, citing a balanced mix of rising and falling inflationary risks and a favorable external economic environment. The revised forecast now stands at 3.5% for 2024, a reduction from previous expectations, and remains at 4.2% for 2025.

The Central Bank of Azerbaijan (CBA) has released updated economic forecasts indicating that Azerbaijan's current account is poised to maintain a surplus by the end of 2024, reflecting strong economic performance despite fluctuating global oil prices.

The Central Bank of Azerbaijan (CBA) has projected a robust economic growth rate of 3.5-4% for this year, according to CBA Chairman  Taleh Kazimov said at a press conference on May 1. Kazimov also anticipates a growth rate of 3% for the following year, indicating a steady upward trajectory for the nation's economy.

Energy Minister Parviz Shahbazov recently convened with Alessandra Roccasalvo, the Acting Permanent Representative of the United Nations Development Programme (UNDP) in Azerbaijan, to explore avenues for bolstering long-term cooperation in the energy sector. Discussions centered on advancing collaboration in green energy technologies, promoting energy efficiency, and aligning efforts with Azerbaijan's chairmanship of COP29.