From the beginning of the year, for whatever reasons, 16.5% of debit payment cards were withdrawn from circulation – by November 1, their number was 663 000. The reduction also affected the credit cards (minus 14.5%) - to 1 114 000.
According to the Central Bank of Azerbaijan (CBA), in January-October, the number of social security cards for the payment of pensions and benefits declined slightly (-0.05%) to 2 425 000. Then an increase in the number of salary cards was registered (+2.7%) - up to 1 483 000.
Recall, the total number of payment cards by November 1 was 5 685 000 (minus 280 000 or 4.7% to 1 January). --17D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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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%.
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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.
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