Country's Central Bank set the official rate of the manat to the US dollar on February 14 at the same level - 1.7301 manat per dollar, according to a Central Bank report.
Over the past week the dollar and the euro in Azerbaijan has been reduced dramatically, causing uncertainty in the foreign exchange market. According to experts, the rise in price of manat is artificial and temporary. Meanwhile, commercial banks buy dollars and euros is much less than the official rate, and sell - much more expensive than the same rate. This fact gives rise to the experts talk about currency speculation in the financial market. -02D-
Economics
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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Azerbaijan’s Cabinet of Ministers has approved new hourly wage rates for educational staff involved in teaching activities at state-funded institutions, effective immediately. The decision, formalized under Decree No. 542, outlines differentiated payments based on academic qualifications and teaching levels.
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The government of Azerbaijan approved new regulations regarding the leasing of agricultural lands in liberated territories to residents of villages and settlements on preferential terms. This initiative aims to revitalize rural communities and stimulate agricultural production.
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As a significant step toward strengthening Azerbaijan's position in global trade, the "International Trade" working group of the Commission on Business Environment and International Rankings held a videoconference to review progress achieved and set objectives for 2025. Key participants included the First Deputy Minister of Economy, Elnur Aliyev; the Head of the Economic Reforms Monitoring and Evaluation Sector, Vusal Shikhaliev; and the Deputy Chairman of the State Customs Committee, Natig Shirinov.
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