In February, food prices in Baku and other cities of Azerbaijan were generally stable.
During the reported month, most dropped the price of corn oil - 7.7%, imported animal oils fell by 1.5%. Due to the winter season agricultural production increased by 5%.
Compared to the same period last year, food prices rose by 1.5%. The most noticeable difference was in the prices of dairy products (15%), flour (12.5%), pasta (11%), lamb (10%), and beef (6%).
Experts believe the stable prices of the first two months of the year were normal in advance of the increase, especially in the dry fruits for the spring holiday of Nowruz.
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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