Economic development of Azerbaijan in January-October 23/22

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.

The European Bank for Reconstruction and Development (EBRD) has published its Transition Report for Azerbaijan for 2024-25, noting progress in macroeconomic indicators and the banking sector while pointing out ongoing risks related to the economy's dependency on hydrocarbons and offering a series of recommendations.

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.