. In January-May 2016 the volume of industrial production in Azerbaijan made in constant prices 12.1 billion manats, which is 0.3% less than in the comparable period of 2015, the State Statistics Committee said.
In the non-oil sector, which accounts for 27% of industrial production (3 billion 270 million AZN), a 3.5% rise was marked. In the oil sector decrease in production by 0.8% was recorded.
The mining industry accounts for 64.5% of industrial output, and the processing industry accounts for 28.6%, etc.
Industrial goods make up 86.4% of the industrial production. The remaining 13.6% are industrial services.
In May, industrial production increased by 9.8%.
The share of private sector in industry is 79.5%. This also includes the activities of foreign companies involved in the development of oil and gas fields. -------08D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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