The net foreign assets of Azerbaijani banks in July amounted to 16.29 billion manats, up by 7% YoY, the Central Bank of Azerbaijan (CBA) reported. The net domestic assets of the banks amounted to 8.998 billion manats, up by 20.8%. According to the CBA report, as of July 1, the broad money supply amounted to…
Thanks to the attention and care of the President of the Republic of Azerbaijan, the Supreme Commander-in-Chief of the Armed Forces, confident reforms are being carried out in the field of military capability development, improving the service, social and living conditions of military personnel, protecting the health of servicemen, strengthening the logistic support of the…
According to analysts of the Institute of International Finance (IIF), Azerbaijan will continue economic growth, despite lower prices for raw materials and low growth rates in Russia and China, which significantly affects the regional economy, the IIF report on Caucasus and Central Asia says. According to the report, Azerbaijan is on course to expand its…
The value of goods and services produced in Baku reached 19.9 billion manats in January-June, up by 0.7% YoY, the Statistics Office reported. “Some 81.3% of industrial production accounted for the mining industry, 16.7% – the processing industry, 1.5% – electricity generation, and 0.5% – waste cleaning and recycling sector,” the report says. The share…
Prices for consumer goods and services in Azerbaijan increased by 2.7% YoY in January-July, the State Statistical Committee reported. According to the report, prices grew by 3.1% for food, drinks and tobacco products, by 1.3% for non-food products, and by 3% for paid services to the population. Prices for consumer goods and services increased by…
As of July 1 the number of hired employees in the Azerbaijani economy increased by 4.4% and exceeded 1.6 million people compared to the same period of 2018, the State Statistics Committee reported. Some 903,400 of people were employed in the public sector, while 710,300 people – in the private sector. Of the total number…
Local and Russian enterprises and businessmen demonstrate continuous interest in cooperation due to similar business structures, preferential tax and customs regimes and availability of different transport routes which ease logistics issues. Business people from Tyumen, Russia, who will be in Baku on August 11-16, plan to establish ties with potential partners from Azerbaijan. The visit,…