The Cabinet approved the new composition of the board of the Ministry of Finance of Azerbaijan. By tradition, the Board is headed by the Minister Samir Sharifov, except for him, there are the first deputy Ilgar Fatizadeh and two deputies: Azer Bayramov and Emin Huseynov. The advisory body includes the Minister of Finance of Nakhichevan Autonomous Republic Khalid Isgandarov, head of the office of the Finance Ministry, Namig Suleymanov.
Then come - Javanshir Yusifov, Head of Civil Service of financial supervision; Razim Valiyev, director of the agency for the management of public debt; Khalig Rahmanov, head of the legal department of the apparatus; Fazil Farajov, the head of the budget department of the apparatus; Khagani Rzayev, head of the department of social financing; Elman Piriyev, Director of the State treasury agency and Adil Akhmedov, head of the state supervision service for precious metals and stones. --17D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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