The International North-South Transport Corridor will make a significant contribution to increase in cargo transportation through Azerbaijan, the Black Sea Trade and Development Bank (BSTDB) declared. “BSTDB is interested in such infrastructure projects,” the bank said. “The North-South project is a regional initiative covering several BSTDB member-states, which is another reason for BSTDB to support…
Azerbaijan’s GDP volume exceeded 11.54 billion manats in January-February, up by 1.3% YoY, according to a report of the State Statistics Committee. The volume of GDP per capita stood at 1,178.7 manats. In January-February the volume of GDP produced in the non-oil sector of the country increased by 2.3%, while no growth was observed in…
Prices for consumer goods and tariffs for services in Azerbaijan increased by 4.7% in January-February as compared to January-February 2017, the State Statistics Committee said on March 9. The prices for food products increased by 5.8%, prices for non-food items – by 4.7% and the cost of paid services – by 3.3% during the reporting…
Currency reserves of the Central Bank of Azerbaijan (CBA) amounted to $5.387 billion in February, up by $1.018 billion (23.3%) YoY, according to statistical data posted on the CBA website on March 7. During the month, CBA reserves rose by $6.1 million. Currency reserves of CBA increased by $1.36 billion or by 34.2 % in…
The Azerbaijani banking sector will be able to overcome the challenges before it, Ziyad Samadzade, chairman of the parliamentary committee on economic policy, industry and entrepreneurship, said at a conference on “Financing through capital markets, listing and investments” in Baku on March 6. Samadzade said that the banking sector of Azerbaijan had gradually begun to…
As of late January Azerbaijani banks’ liabilities to the country’s Central Bank (CBA) decreased to 501.7 million manats, or more than 3-fold YoY, according to the report of the country’s Financial Market Supervisory Authority. Banks have reduced their liabilities by 19.7%, from 30.35 billion manats to 24.37 billion manats, according to the report. The main…
The export of meat from Ukraine to Azerbaijan rose 2.7-fold YoY and amounted to $37.8 million in 2017, Nikolai Pugachev, director of the national scientific center “Institute of Agrarian Economics” and academician of the National Academy of Agrarian Sciences, said. During the period, Azerbaijan became one of the TOP-5 importers of this product from Ukraine.…