The output in production of machinery and equipment, other vehicles, cars, trailers and semi-trailers amounted to 91.7 million manats in Azerbaijan in January-May. The production of cars, trailers and semi-trailers increased by 63.9%, machinery and equipment production – by 15.8%, while the production of other vehicles decreased by 1.8% in January-May 2018 compared to the…
The International Monetary Fund (IMF) forecasts GDP growth in Azerbaijan at the level of 2.7% in 2019, and in the following years – from 2.1% to 2.5%. The economy of Azerbaijan is gradually recovering from the experienced shocks, said Natalia Tamirisa, head of the IMF mission in Azerbaijan, at a press conference in Baku on…
In January-May the volume of building materials production in Azerbaijan amounted to 325.5 million manats, up by 5% YoY, the State Statistics Committee reported. According to the report, the biggest growth, 1.8-fold, was recorded in the production of asphalt, followed by a 65.4% increase in the production of processed marble, travertine, alabaster and products made…
Azerbaijan can use Montenegro’s experience in alternative energy sector; the development of this area is attractive for the country, Azerbaijani Minister of Labor and Social Protection of the Population Sahil Babayev said at the Azerbaijan-Montenegro business forum held in Baku. The minister noted that currently there was a noticeable activity in this sector between the…
In April the total value of deposits in Azerbaijan amounted to 22.13 billion manats, up by 9.6% YoY, the Central Bank of Azerbaijan (CBA) reported. In particular, the value of deposits of non-financial organizations increased by 11.7% (10.561 billion manats), reaching 11.8 billion manats. The total value of deposits of legal entities in April reached…
In January-May industrial enterprises and private entrepreneurs operating in this sphere produced goods worth 19.6 billion manats, up by 2.2% YoY, the Azerbaijani State Statistics Committee reported. The production of non-oil goods increased by 15%. Some 69.9% of industrial goods were produced in the extractive sector, 25.1% accounted for the processing sector, 4.3% – for…
Bank Respublika has signed an auto financing loan contract worth $8 million with the Netherlands Development Finance Company (FMO), a Dutch bank. A loan for a period of three years was allocated to finance the agricultural sector and small and medium-sized enterprises (SMEs). The funds are also to be used to finance the activities of…