It is planned to build another 26 agroparks in Azerbaijan, the country’s Economy Minister Shahin Mustafayev said. He said that the agroparks would be built in 19 districts of Azerbaijan. A variety of processing and manufacturing enterprises are planned to be built in these agroparks. Currently, the work is underway in Azerbaijan to create ‘Yalama’…
The Asian Development Bank (ADB) approved a $500 million loan to help Azerbaijan maintain social spending, create jobs, and diversify its economy to mitigate the adverse impact of a crash in oil prices, ADB said in a message. Sean O’Sullivan, director general of ADB’s Central and West Asia Department, said ADB’s support was important for…
Azerbaijan’s Central Bank (CBA) will carry out tight monetary policy in 2017, the CBA Chairman Elman Rustamov said. “Due to transition to a floating exchange rate of Azerbaijani manat, we switched to targeting the growth of money supply”, Rustamov said. “Our main goal is to prevent additional currency emission and not to exert pressure on…
Azerbaijan’s Energy Minister Natig Aliyev noted the importance of the United States’ representation at a high level at the 3rd consultative council of ministers on the Southern Gas Corridor project in order to give political support to the project, the Azerbaijani Energy Ministry said. Aliyev made the remarks during his meeting with William Silkworth, office…
Slowdown of the global economy’s development, deterioration of the macroeconomic indicators affected Azerbaijani economy as well, the country’s parliament speaker Ogtay Asadov said. He made the remarks at a plenary session of Azerbaijani Parliament during the discussion of the country’s draft state budget and the concept of socio-economic development for 2017 and the next three…
The Asian Development Bank (ADB) is ready to support small and medium-sized enterprises (SMEs) in Azerbaijan, a source in the country’s government reported. ADB offers to support business by opening credit lines for local banks. “Thus, the ADB wants to provide support to banks in Azerbaijan and contribute to the development of SMEs”, said the…
In an auction held on December 6, by Azerbaijan’s State Committee on Property Issues, 12 state properties were sold as part of a new privatization program. The privatized properties are located in Baku, Shirvan, Sabirabad and Saatli. There are 5 vehicles among the privatized properties. The next auction, to be held on December 13, will…