The difficult economic situation has led to a new conference, in which the President took part.
At today's event on the second year of implementation of the State Program on Socio-economic Development of Regions in 2014-2018, Ilham Aliyev again blamed the global economic crisis, recalling the ten years of "oil prosperity." "There is a decline in the world economy due to circumstances beyond our control now. We did not separate ourselves from the world community, we integrated in it and conducted open market policies and liberal economic policies, so it affects us," he said.
However, the head of state did not disclose the reasons for which there has been done almost nothing for the real sector development, and the economy is still at three quarters dependent on hydrocarbon exports.
The conference was attended by Ministers of Finance, Taxes and Economy, the Chairman of the Central Bank, state and government officials, as well as entrepreneurs. --17D-
Economics
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The Caspian International Investment Company JSC ended 2023 with a net loss of 557,000 manats, a significant improvement compared to the previous year, when losses were four times higher. The company's pre-tax losses for the year amounted to 264,000 manats, 11 times lower than in 2022, while income tax payments of 293,000 manats highlighted the efficiency achieved through strategic fiscal management.
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The 24th Republican Beekeeping Exhibition and Fair opened in Baku on Monday, with around 120 tons of honey products on sale. The event features the participation of 275 beekeepers from 39 districts across Azerbaijan and will run until September 29.
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BAKU, Sept 10 (Reuters) – The "Chain Reaction 2024" conference commenced in Baku on September 10, bringing together leaders and innovators from across the technology sector. Organized by FARI Solutions in collaboration with the Center for Analysis and Coordination of the Fourth Industrial Revolution and the Innovation and Digital Development Agency, the event is supported by Binance, the world's largest cryptocurrency exchange.
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The Azerbaijani government has amended its financing mechanism for higher education institutions, according to a decree issued by Prime Minister Ali Asadov on September 6. The changes update annual education costs for students in various academic levels and fields, including bachelor’s, master’s, medical, and doctoral programs, under state orders.
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