Cars Mercedes-Benz still are still regarded as the best in the market of used cars in Azerbaijan. In the capital, the share of sold German cars is still at the level 35%.
According to the experts of the public association "Property Market Participants", the dynamics of sales has stabilized - of 15,000 monitored cars 21.4% were delivered for realization in June.
The tendency of the increase of prices has also changed - the average price in the market of used cars in Baku in June increased by 1.6%, up to 16.46 million manta compared to May. - 17D-
Economics
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The labor market in Azerbaijan in 2024 presents a mixed picture: a slight decrease in the unemployment rate alongside growing challenges in addressing youth employment issues. Despite significant progress in formalizing employment and creating jobs, the mismatch between labor force growth and job availability remains a pressing issue.
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SOCAR Turkey, the largest foreign investor in Turkey, held a press conference in Istanbul to review its 2024 operational results. The event, attended by Azerbaijani media representatives, featured insights from SOCAR Turkey CEO Elchin Ibadov and Refining and Petrochemical Business Unit Head Kenan Mirzayev.
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Azerbaijan’s energy sector remains the backbone of its economy, contributing nearly half of government revenues, buoyed by elevated oil prices. Despite a gradual decline in oil production, the rate of decrease has slowed, reflecting a stabilized approach to managing the country’s hydrocarbon resources.
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Azerbaijan navigated a turbulent economic period in 2024, characterized by inflationary pressures, persistent fears of devaluation, and limited structural reforms. While official data pointed to moderate inflation, deeper vulnerabilities and growing public dissatisfaction cast a shadow over the country's financial stability, economist Gubad Ibadoglu noted.
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