The volume of remittances to Azerbaijan from abroad reduced last year.
As stated in the report on monetary policy on the website of the Central Bank (CBA), compatriots living abroad, and this is a major slice of this segment, transferred their relatives $ 1 billion 183 million. It's 1.5 times less than the results of 2014, when the citizens of the country through transfers received $ 1 billion 709 million. This figure accurately reflects the decrease in the earnings of Azeri migrant workers residing mainly in the CIS countries and Turkey. --17D-
Economics
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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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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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