Residential buildings with a total area of 1 million 677.1 thousand square meters were commissioned in Azerbaijan in 2016, the State Statistics Committee reported initially on January 24.
The housing area put into operation decreased by 13.2% in 2016. Housing construction was invested AZN 683,500,000 from all financing sources (government, private sector, citizens), which is 35.2% less than in 2015.
The construction of social facilities also reduced. Secondary schools for 4,972 student places and pre-school institutions for 2,267 children were commissioned. ----08D
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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