SAP Discovery Day Baku 2024 Kicks Off

In Azerbaijan, the 'Halal' certificate will be issued. The Azerbaijan Standardization Institute (AZSTANDART), operating under the State Service for Antimonopoly and Consumer Market Control of the Ministry of Economy, has been granted the right to issue 'Halal' certificates, which are claimed to meet international accreditation standards.

The Ministry of Finance of Azerbaijan announced a 1.7 billion manats increase in its forecasted state budget revenues and expenditures for 2025, signaling a more optimistic outlook for the country’s financial situation.

Azerbaijan processed 5 million tons of crude oil in the first three quarters of 2024, a 2% increase compared to the same period last year, when 4.9 million tons were processed, according to data published by the Ministry of Finance. Of this total, around 1.3 million tons were imported oil, primarily from Russia, Turkmenistan, and Kazakhstan.

Azerbaijan’s oil and gas sector continues to ensure stable employment: according to the State Statistics Committee, 31.7 thousand people were employed in the industry during the first nine months of 2024. The sector remains a crucial pillar of the national economy, offering some of the highest salaries in the country, although differences in pay between state-owned and private enterprises are noticeable.