BAKU / 19.09.16 / TURAN: By September 1, the area of communication and information technologies produced 1 billion 70.7 million AZN (2.8% of total GDP).
According to the State Statistics Committee, almost three quarters (72.2%) of the revenues in January-August came from the population, and the rest - from legal entities and individual entrepreneurs.
More than 81% of the money earned in the private sector came from the three mobile telecom operators of Azerbaijan. --17D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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