President Ilham Aliyev after visiting the Zagatala region on November 4, where he took part in the commissioning of a number of social facilities, in the afternoon visited the Sheki district nearby.
There was also a commissioning ceremony at a number of facilities. In the area there was reconstructed a 28 km stretch of the road Sheki-Gakh. The introduction of the road in operation reduces the distance between the two regional centers by 42 km route and connects 22 localities.
The village Gohmuk has been rebuilt a high school building area of 5,277 square meters for 840 students. In the city of Sheki has been opened a new building of the Center for Justice on 19.8 thousand sq. m, as well as the building of a kindergarten for 160 places, built up on the initiative of Heydar Aliyev Foundation.
The head of state also reviewed the progress of the treatment complex Markhal, whose construction began in 2012 on an area of 32 hectares.
The Sheki region is located 290 km north-west from Baku and is included in the Sheki-Zagatala economic region. The population is 170 thousand. The main direction of economic development of the region is agriculture and tourism. -0-
Economics
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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Azerbaijan’s Milli Majlis approved in the first reading on Monday the draft budget of the State Social Protection Fund (SFS) for 2025, projecting a deficit-free financial plan with revenues and expenditures balanced at 7.676 billion manats, a 10.45% increase from the previous year.
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Azerbaijan appears poised for a notable economic shift in 2024, according to projections from the European Bank for Reconstruction and Development (EBRD). Inflation, a persistent thorn in the side of policymakers in 2023, is set to cool significantly, with the average annual rate expected to fall to 3.5%, compared with a high of 8.8% last year. Yet, as inflation moderates, the country's current account surplus—an indicator of its external economic strength—is forecast to narrow slightly, dropping to 8.5% of GDP from 9.9%.
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Azerbaijan's vegetable and fruit exports dropped in the first ten months of 2024, with physical weight down 4.1% and value falling 1.7% compared to the same period last year, according to the State Statistics Committee. Key export products, including potatoes and hazelnuts, saw significant declines, while apples, persimmons, and tomatoes showed modest gains.
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