Azerbaijan is ahead of the US and Germany in terms of Efficiency Index of Rail Service, the Global Competitiveness Report for 2019 published by the World Economic Forum says. Azerbaijan’s Efficiency Index of Rail Service is 70.8, in accordance with the report. In this index, Azerbaijan is ahead of such developed countries as the US…
Over the past 15 years, gross domestic product in Azerbaijan has grown about 3-fold, industrial production 2.6-fold, export volumes 4.7-fold and foreign exchange reserves 24-fold, according to the statistics on macroeconomic indicators for the reporting period. During the same period, infrastructure projects were implemented in Azerbaijan, mainly in the regions. Thus, over the past 15…
Fruit juice production accounts for 40% of total agricultural production, Azerbaijan’s Deputy Economy Minister Rufat Mammadov said at the Road Show Eurasia Forum organized by International Fruit and Vegetable Juice Association (IFU) in Baku. Mammadov added that juice production in Azerbaijan always reached high marks, because it was a traditional type of the population’s activity.…
Azerbaijan and the UN Conference on Trade and Development (UNCTAD), key body of the UN General Assembly on trade and development issues, have inked an action plan for the procurement and implementation of the Debt Management and Financial Analysis System (DMFAS) program. The action plan was signed by Samir Sharifov, Azerbaijan’s Finance Minister, and Mukhisa…
The average monthly salary in Azerbaijan is expected to have increased to 850 manats ($500) by 2024. According to forecasts, the average monthly salary will have amounted to 620.4 manats ($365) by late 2019, 716.7 manats ($421.71) in 2020, 768.6 manats ($452.25) in 2021, 809.2 manats ($476.14) in 2022, and 849.9 manats ($500) in 2023,…
The cooperation within the Energy Charter creates opportunities for the development of relations between Azerbaijan and Bangladesh, Minister of Energy Parviz Shahbazov said during the meeting with the visiting Bangladeshi Minister of Power, Energy and Mineral Resources Nasrul Hamid. The Bangladeshi minister is visiting Azerbaijan to attend the International Energy Charter Forum held in Baku.…
The period of exemption from tax regarding the production volume obtained from the sale of agricultural products in Azerbaijan will be extended for five years. This is reflected in the draft law “On Amending Tax Code” and concerns the volume of production obtained from the sale of agricultural products manufactured by the agricultural producers themselves…