In the first 11 months of 2016 the volume of industrial production in Azerbaijan totaled 28.8 billion manat, which is 0.6% less than in the same period last year in comparable prices.
In nominal terms, industrial production increased by 4.8 billion manat.
The non-oil-gas sector accounted for AZN 7 billion 668.3 million of industrial production. This sector recorded growth of 4.9%.
According to the State Statistics Committee, the extracting industry accounted for 65.4% of industrial production. The production fell by 0.8% in this industry.
In the processing sector, the production (8.2 billion manat) grew by 1.3%.
In annual terms, the number of employees in industry increased by 10,100 people and reached 192,300. But 1,000 people were sacked in the extracting industry. -----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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