In September, the building materials market was relatively active. But in spite of this, during the month, prices for building materials remained unchanged. According to estimates, in September, the average price in the market compared to May fell by 1.2%.
In comparison with the last quarter decline in prices was 4.3%, and in comparison with the previous year, it was 6%. Relatively well with the same period of 2010, prices increased by 20%. During the month, the share of local production in the market for building materials was a little over 50.2%.
Experts believe that the activity in the market of building materials is associated with the season, and reconstruction work in the capital. They believe that the market activity will continue, and a strong rise in prices will not be observed.
Economics
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In a significant step towards advancing economic reforms, Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with a delegation led by Charles Donald, Chair of the OECD Working Party on State Ownership and Privatisation Practices and CEO of the UK Government Investments Agency. The meeting underscored Azerbaijan's partnership with the Organisation for Economic Co-operation and Development (OECD) and explored new avenues of collaboration.
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Azerbaijan is finalizing work on the "E-KOB evi" digital portal, aimed at streamlining business operations and enhancing coordination between entrepreneurs, state agencies, and private entities, Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), said.
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On December 3, Azerbaijan's Cabinet of Ministers approved new regulations requiring small electric transport vehicle operators to provide detailed data on vehicle use and operator information to government systems, effective immediately.
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In November 2024, the State Oil Fund of Azerbaijan (SOFAZ) sold $574.6 million, pushing the total dollar sales for the first 11 months of the year to $6.5 billion. According to SOFAZ, this represents a 40.8% increase compared to November 2023, when sales reached $339.9 million.
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