Investments in Fixed Assets in Azerbaijan Decreased by 0.7% in 2024

Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.

Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.

Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.

The Asian Development Bank (ADB) has introduced its Framework Partnership Program for 2025–2029 during a high-level meeting with the Central Bank of Azerbaijan (CBA). The meeting, which was attended by CBA First Deputy Chairman Aliyar Mammadyarov and ADB Country Director for Azerbaijan Sunni Duranni-Jamal, highlighted strategic initiatives aimed at fostering economic transformation and sustainable growth.