The deficit in Azerbaijan’s payment balance will amount to $5 billion in 2016, Elman Rustamov, chairman of the country’s Central Bank (CBA), said. Rustamov said the biggest part of deficit of Azerbaijan’s balance of payments, that is 88% to 90%, was associated with problems in the capital flow balance. “It cannot be said that the…
Belarus and Azerbaijan are analyzing the prospects of joint production of carpets and cotton fabrics, the Belarusian President’s press-service said in a statement following President Alexander Lukashenko’s talks with Azerbaijani President Ilham Aliyev. “In my opinion, Azerbaijan did the right thing when it decided to develop its cotton growing industry. Output figures will rise so…
The European Union (EU) and Azerbaijan’s Taxes Ministry have successfully completed the implementation of a joint twinning project on improvement of human resources management, the country’s Deputy Taxes Minister Sahib Alakbarov said. The twinning project’s implementation was carried out jointly with taxes administrations of the EU, France and Spain. “This project has become a successful…
Azerbaijan’s GDP amounted to 49.2 billion manats in January-October, down by 3.7% YoY, the country’s finance minister Samir Sharifov said. He made the remarks during a discussion on the draft state budget and the concept of social and economic development for 2017 and the next three years. The discussions on the draft state budget at…
Azerbaijan Airlines CJSC (AZAL) plans to establish air service with the Russian Volgograd and Astrakhan cities, as well as with the cities of Russia’s Far East, AZAL Vice President Eldar Hajiyev said. Hajiyev said these plans were reflected in the company’s program that covered the period of up to 2021. As of now, AZAL is…
In the course of the regular auction held by Azerbaijan’s State Committee on Property Issues on November 29, 19 state property units have been sold as part of a new privatization program. Three small state property units and one unused non-residential area of the privatized objects are located in Baku, one facility is located in…
Azerbaijan and Mexico are successfully cooperating in trade, Mexican ambassador to Azerbaijan Rodrigo Labardini said at a press-conference in Baku on November 29. Labardini recalled that the Azerbaijani embassy opened in Mexico in 2007, while the Mexican embassy in Azerbaijan launched its activity in 2014. The ambassador said that the opening of diplomatic missions contributed…