Confectionery factory Ulduz plans to expand its exports in the near future, the company’s director of sales and exports Sergei Spiridonov reported. The company’s products are present on Georgian, Turkmen and Russian markets, he said. “We are currently working with Ukraine, Malaysia, Israel and Saudi Arabia. Our products are also represented in Iraq. We are…
Azerbaijan enjoys a vast potential of renewable energy sources and strives to make use of it. In 2018 electricity produced from renewable sources will exceed 10% of the total energy generated in Azerbaijan, Deputy Chairman of The State Agency on Alternative and Renewable Energy Sources of the Republic of Azerbaijan Jamil Malikov declared. It is…
Azerbaijan may export pomegranates to four EU countries – Germany, France, Latvia and Poland. This was stated by secretary of the Association of Manufacturers and Exporters of Pomegranate Shahin Hasanli. Negotiations are underway in this direction, the conclusion of contracts is expected, he stressed. The representative of the association noted that this year the growth…
Azerbaijan’s state budget revenues amounted to 16,089.7 million manats in January-September, up by 33.6% or by 4,044.6 million manats YoY, Azerbaijan’s Finance Ministry said in a message. The state budget revenues in the reporting period were fulfilled by 1.3% more than the forecast. The state budget revenues from the Azerbaijani Ministry of Taxes amounted to…
The average monthly pension in Azerbaijan as of October 1 increased by 8.4% YoY, reaching 221.1 manats, the Ministry of Labor and Social Protection of Population of Azerbaijan said in a message. The average monthly old-age pension increased by 9%, to 249.1 manats over the same period. Funds allocated for pensions were 7.6% or 186.9…
The International Bank of Azerbaijan (IBA) has earned 319 million manats worth of profits in the first 9 months of 2018. These indicators reflect such positive trends in the bank’s activities, as successful completion of the recovery process and the transition to a new stage of development. As of September 30, the assets of IBA…
Transparency and accountability are the basis for stable and rapidly developing economy, Chairman of the Azerbaijan Chamber of Auditors Vahid Novruzov declared. Novruzov stressed that Azerbaijani President Ilham Aliyev paid special attention to ensuring transparency in the economy. “This is not coincidence because world practice shows that only transparent economy can be sustainable, develop rapidly…