Within four months of this year, catering facilities in Azerbaijan gained 214.1 million manat. This is 21.3% higher than in the same period last year.
The share of the state in the nutrition sector is small - 4.7 million or 2.2%. According to the State Statistics Committee, 48.2% (AZN 105.7 million) turnover for the private sector accounts for legal entities. Individual entrepreneurs owned 51.8% of the market.
In Azerbaijan customers of cafes and restaurants are not given cash receipts or presented the bill. Therefore, the data of the State Statistics Committee of cafes and restaurants, whose number is constantly growing, cannot be accurate because they are based not on actual accounting figures, and statistical methodology. 08D
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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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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