From the beginning of 2012, the industrial production in Azerbaijan has totaled 28.5 billion manat. This is 3.9% less than in the first ten months of 2011.
The committee said that industrial production in the non-oil sector rose by 6.8%. The oil sector is experiencing a period of decline, and the first ten months of this year, commercial products in this sector decreased by 5.9%.
However, the mining industry owns more than three quarters of industrial output in January-October 2012. The share of processing industry accounts for 18.6% of the industrial product in the country. - 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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