The volume of remittances to Azerbaijandecreases from year to year. According to the Central Bank of Azerbaijan (CBA), from January to July in local banks received $ 423 million from abroad. This is by 22.5% less than over the same period of the previous year, and by 47% less than the July 1, 2014. According to the CBA experts, the main reason for the fall of the rate is a poor economic situation in the countries, where lives the bulk of potential private caregivers of relatives (mainly Russia, Kazakhstan, Ukraine). --17D-
Economics
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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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