EBRD Highlights Both Progress and Recommendations for Improvements in Azerbaijan's Economy

A recent report from Azerbaijan’s State Tax Service under the Ministry of Finance casts a spotlight on a key inefficiency in the country’s business environment: more than a third of registered commercial facilities are inactive.

S&P Global Ratings has reaffirmed Azerbaijan's long-term and short-term sovereign credit ratings in foreign and national currency at "BB+/B" with a stable outlook.

On October 23, Azerbaijan Railways (ADY) presented its first international Sustainability Report, prepared in collaboration with Deloitte, highlighting the company's achievements from 2021 to 2023 and its plans up to 2030.

The negative impacts of Azerbaijan's prolonged border closures, now nearing five years, on the labor market are starkly evident in official statistical figures and data related to self-employment and individual labor activities. A significant portion of the income of residents from border areas was derived from cross-border trade, the sale of goods, transport, public catering, and accommodation services. It is clear from our observations that the closure of the land borders has left those dependent on income from trade and services related to border activities with no choice but to seek alternative jobs and migration to meet their material needs.