President Ilham Aliyev returned to parliament for revision the amendments to the law "On Currency Regulation" adopted on 19 January. According to the assistant to the president office on economic reforms, the President withdrew the document after "numerous requests from entrepreneurs and investors."
The essence of the amendments was tightening and restricting the transfer of funds abroad, which provided the retain of 20% from the transfer of $50,000 abroad for buying a real estate. The amendments have been criticized by the international financial community. The Minister of Finance Samir Sharifov urged in economic feasibility of tightening.
The MP Fazil Hajiyev said the decision of the president the right step. According to him, initially the head of state " was misinformed", and the establishment of restrictions on the export of capital deterred investors. According to Hajiyev, the Parliament, is likely to cancel all the changes made previously. -16D06-
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review