Thanks to the "State Program on socio-economic development of the city of Baku and its settlements in the 2011-2013", all the township infrastructure and socio-economic problems will be solved, said President Ilham Aliyev at the 20 June meeting.
In general, the President is pleased with the progress of work under the state program.
The President touched upon the issues of construction of schools and kindergartens, which require additional funding. At the same time, he noted that problems of roads, gas, electricity and water, and also the issues of unemployment and employment have to be resolved in the townships. According to Aliyev, this year, 30-40% of the National Entrepreneurship Support Fund will be directed to the creation of new enterprises in the villages of Baku.
He urged government agencies to approach these challenges with great care. "It is our duty to serve the people. I take this obligation and my duty in this way and that is how I have worked during these nine years. And I demand it from everyone," said President Aliyev.
But it is unlikely that the objectives will be addressed in full. The construction of sewerage and potable water supply systems goes on slowly, and these systems are practically unavailable in the villages. This also applies to asphalt coating and gas communications. -0 -
Economics
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Azerbaijan processed 5 million tons of crude oil in the first three quarters of 2024, a 2% increase compared to the same period last year, when 4.9 million tons were processed, according to data published by the Ministry of Finance. Of this total, around 1.3 million tons were imported oil, primarily from Russia, Turkmenistan, and Kazakhstan.
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Azerbaijan’s oil and gas sector continues to ensure stable employment: according to the State Statistics Committee, 31.7 thousand people were employed in the industry during the first nine months of 2024. The sector remains a crucial pillar of the national economy, offering some of the highest salaries in the country, although differences in pay between state-owned and private enterprises are noticeable.
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In a move to accelerate technological advancements in telecommunications, the Azerbaijani Investment Holding (AIH) and China’s FiberHome Telecommunication Technologies Co., Ltd. signed a Memorandum of Understanding (MoU) in Baku on October 15. The agreement is aimed at fostering closer collaboration in telecommunications technology, marking a significant step in Azerbaijan’s ambitions to expand its digital infrastructure and introduce cutting-edge business practices.
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In the first eight months of 2024, Azerbaijan's legal entities and individuals engaged in trade operations with partners from 172 countries, according to data released by the State Statistics Committee. The country exported goods to 117 nations while importing from 161, highlighting the breadth of its trade relations. However, foreign trade turnover decreased by 14.93% compared to the same period in 2023, reflecting global economic challenges and shifts in demand.
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