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’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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