Approximately 30% of last year's growth of the non-oil sector of Azerbaijan was ensured by construction within the investment, including capital expenditures of the state budget and extrabudgetary funds.
According to the report of the Central Bank (CBA) on monetary policy in the past year, the total non-oil GDP growth was at 7%. In the agricultural sector meanwhile there was a decline - minus 2.6%. According to experts, the result was influenced primarily by the unconfirmed expectations of the government and villagers in the area of ??import capacity of the Russian Federation. As a result of the devaluation of the ruble in all regions of the Russian Federation fixed prices were introduced, making it unprofitable to export fruits and vegetables into this country.
With regard to other areas of the non-oil sector of the economy, the highest growth after construction was recorded in the tourism business and public catering - 18.2%, information and communications - 15.1%, as well as trade and repair of vehicles - 10%. --17D-
Economics
-
Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
-
Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
-
According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
-
Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
Leave a review