Economics - 2024
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investm...
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures ref...
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Azerbaijan’s Milli Majlis approved in the first reading on Monday the draft budget of the State Social Protection Fund (SFS) for 2025, projecting a deficit-free financial plan with revenues and expend...
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Azerbaijan appears poised for a notable economic shift in 2024, according to projections from the European Bank for Reconstruction and Development (EBRD). Inflation, a persistent thorn in the side of...
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Azerbaijan's vegetable and fruit exports dropped in the first ten months of 2024, with physical weight down 4.1% and value falling 1.7% compared to the same period last year, according to the State St...
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The largest scheduled maintenance ever carried out at the STAR Refinery since its launch under SOCAR's management six years ago took place from September to October 2024. This overhaul will allow the...
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia,...
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the...
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependen...
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Azerbaijan's State Statistics Committee announced on Tuesday that the monthly statistical reporting system for retail sales and services has been revised to enhance transparency and accuracy.
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The State Oil Company of Azerbaijan (SOCAR) is examining opportunities in geothermal energy in partnership with U.S. companies as part of Azerbaijan's efforts to advance renewable energy. SOCAR Presid...
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On Tuesday, the Turan E-Commerce and Export Forum in Baku unveiled the new "Made in Turan" trademark, marking a bold step toward uniting the economic potential of Turkic states under a single label. T...
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According to the State Customs Committee, food import expenditures in Azerbaijan rose by 10.2% in the first ten months of 2024 compared to the same period last year, reaching a record $1.97 billion. T...
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Azerbaijan's potato sector, a cornerstone of the nation's food supply and its second most significant agricultural product, is in sharp decline. Production dropped by 7.6% year-on-year from January to...














