Putin's Visit to Baku Highlights Growing Energy Partnership with Azerbaijan

In a notable shift in Azerbaijan’s fiscal space, the country’s domestic public debt has soared, rising 3.3 times in the first half of 2024 compared to the same period last year. By mid-year, the debt reached 16,571.9 million manats, equivalent to 23.5% of GDP, according to data released by the Ministry of Finance. This rapid increase has sparked debate over the country's fiscal strategy as the government navigates a complex balance between stimulating economic growth and managing rising debt.

The Federation of Chambers of Commerce of the Gulf Cooperation Council (GCC) will organize the second Economic Forum "Gulf-Azerbaijan" in Baku on September 25-26, aiming to strengthen trade relations between the Gulf countries and Azerbaijan.

Azerbaijan's GDP per capita sharply increased by 14.2% in the first half of 2024, reaching $4,068, according to the country's latest economic data. This surge occurred against the backdrop of steady nominal GDP growth, which reached 70.544 billion manats (approximately $41.5 billion) from January to June 2024. As of July 2024, Azerbaijan's population stood at 10.2 million, providing additional context for the per capita growth figures.

The 2nd meeting of the Azerbaijani-Tajik working group on agriculture was held in Baku, bringing together officials and industry representatives from both countries to explore potential avenues for increased cooperation. The meeting featured Azerbaijani Deputy Minister of Agriculture Elchin Zeynalov and Tajik Deputy Minister of Agriculture Nigina Anvari, along with stakeholders from relevant sectors.