The WB reportedly believes Azerbaijan is about to be included into the list of average-prosperity states, with a middle-level income per capita. This means Azerbaijan will no longer receive soft credits from the WB after June 30, 2011. But the bank will still give advice to Azerbaijan at the new development stage.
Meanwhile the Chairman of the Central Bank of Azerbaijan, Elman Rustamov, said Azerbaijan would prefer investments in the non-oil sector rather than others at the new stage. This will increase the country"s economic stability. ----17D--
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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