Azerbaijan took the 60th place in the ranking of the most suitable countries for business, compiled by Forbes. According to the publication, from the former Soviet Union in the rating were Estonia (22) and Lithuania (24), Latvia (36) and Georgia (47), Azerbaijan (60), Armenia (56), Kazakhstan (65) Moldova (75) Ukraine (88) and Russia (91).
According to Forbes, Russia's protection of property rights is still imperfect, and the private sector remains subject to heavy state intervention. In addition, Russia's dependence on commodity exports makes it vulnerable in a downturn in demand for raw materials.
Meanwhile, Forbes recognized Denmark as the best country for business in 2014. The top three also includes Hong Kong and New Zealand. In 2013, the rating was headed by Ireland.
The Forbes rating "Best Countries for Business - 2014" includes 146 countries. Their achievements have been studied for 11 positions:
Level of personal freedoms; Degree of protection of property rights and investment; Price stability; Presence of barriers to exports and imports of goods and services; Level of technological development; Introduction of innovations; Degree of influence of the state on business; Corruption; Tax burden and the state of the stock market.
The rating was based on the data Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum (WEF). -02D-
Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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