Elman Rustamov and Khagani Abdullayev have been appointed members of the Board of the Central Bank of Azerbaijan. The decision was taken at the plenary session of the Milli Majlis on April 3.
The deputies welcomed the activities of Elman Rustamov on this post. Speaker Oktay Asadov called Rustamov "professional staff".
Elman Rustamov was the head of the Board of the Central Bank since 1995 and Khagani Abdullayev was elected to the Board in 2010.
Powers of Elman Rustamov completed on April 6 in connection with which the head of state proposed his re-election for another 5-year term.
Recall that the name of Elman Rustamov was inclined in a corruption scandal in 2013, regarding a bribe during the printing of the Azerbaijan national currency in Austria.
Serious criticism of Rustamov was also caused by his statement on the eve of a sharp devaluation of the manat in February, although he claimed that this would not happen. -03D04-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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