At today's currency auction Central Bank of Azerbaijan (CBA) has sold $50 million to24 banks. However, the official report of the Central Bank does not specify how much was satisfied the demand for the currency. This is the first case of non disclosure of information about supply and demand on the auctions held since the beginning of this year.
It is noteworthy that at the previous auction, for the first time the CBA only by 45% satisfied the demand of banks in dollars. Independent experts have regarded it as a failure of the CBA to fully meet the demand for foreign currency.
Now, the CBA has decided to limit the information on the foreign exchange auctions in order not to become the object of negative comments.-05D-
Economics
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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