Revenues from cargo transit declined by 0.3%

The Azerbaijani banking sector exhibited robust growth in the first quarter of 2024, with assets increasing by 9.1% compared to the same period last year, reaching a total of 48.91 billion manats, according to the latest data from the Central Bank of Azerbaijan (CBA).

"Considering that 99.6% of the business entities operating in our country are small and medium-sized businesses, it is obvious that the sustainable development of the country is closely linked to the level of development of SMBs, - "KOBIA" Chairman of the Management Board Orhan Mammadov said at the New Era of Socio-Economic Development of Azerbaijan conference.

Note that a share of the non-governmental sector in Azerbaijan's GDP has reached 83%, and its share in employment has exceeded 78%. At present, about 99.6% of business entities in the country are small and medium-sized businesses, and their share in value creation, exports, employment and investment is growing.

The construction of the Georgian section of the Baku-Tbilisi-Kars (BTK) railway is nearing completion, with 95% of the work already finished, Deputy Minister of Digital Development and Transport of Azerbaijan, Samir Mammadov, announced during the 10th meeting of the Azerbaijani-Hungarian intergovernmental commission in Baku on April 25.