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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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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