The Central Bank of Azerbaijan has announced a rate of national currency on 29 September. The course has remained unchanged - 1USD / 1,6252AZN. The growth of the dollar, which began in late May 2016, stalled in September, during the massive intervention of the Central Bank and the State Oil Fund. However, experts believe that by the end of the year the pressure on the national currency will increase again, due to the performance of companies and banks foreign liabilities. -71D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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