According to the results of monitoring carried out on the building materials market in August, prices declined on average by 0.7%. Price reduction is observed mainly for rebar imported from Russia and Ukraine - 3.5%, zinc sheets - 7%, iron coat - 5.5%. This trend has occurred in respect of similar materials produced locally. During the month boards mainly imported from Russia rose by 4.3%, wood - 2.5%, tile flooring imported from Turkey - 4%, wallpaper - 5%. In August, the share of local products in the market of building materials was over 52%.
Experts attribute the decline in prices for construction materials to seasonality and large amounts of the imported material. They believe that the market activity will continue, and prices will remain stable.
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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