According to the monitoring in July, the prices of construction materials decreased on average by 0.3%. This is due mainly to the decrease in prices for timber and wooden planks imported from Russia. Over the last month the wood imported from Russia decreased by 2%, iron pipes – by 3%, wooden boards - by 1.5%, metal coating – by 2%, channels - by 1.5% and galvanized sheets – by 2.6 %. In comparison with the beginning of the year the prices fell by 1.3%, and compared to the same period last year - by 3.0%. During the month, the share of local production in the market amounted to a little more than 52%.
Experts link the decline in the prices, in spite of the activity in the market, with the comparative reduction in the price of timber and metal imported from Russia. Due to the season, the activity in the market will last further. Major changes in the prices are not expected.
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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