To His Excellency Mr. Abdel Fattah al-Burhan Abdelrahman al-Burhan, President of the Transitional Sovereignty Council of the Republic of the Sudan
To His Excellency Mr. Abdel Fattah al-Burhan Abdelrahman al-Burhan, P…
Address of President of the Republic of Azerbaijan Ilham Aliyev on the occasion of the Day of Solidarity of World Azerbaijanis and the New Year
Dear fellow compatriots! A year ago, in my New Year address to the Azerbaijani people, I expressed my confidence that the year 2022 would be a successful year for our country. That is precisely what happened. We have accomplished all our objectives, an…
Kyrgyzstan boosts coal exports to Uzbekistan in 11M2022
BAKU, Azerbaijan, The volume of coal exports from Kyrgyzstan to Uzbekistan has increased over the year, Trend reports citing the State Committee of Uzbekistan on Statistics. According to statistical data, Kyrgyzstan exported 1 034 036 tons of coal to Uzbekistan from January through November 2022, which is an increase of 11 percent over the […]
Kazakhstan, Kyrgyzstan launch joint construction of solar plant
BAKU, Azerbaijan, Kazakhstan and Kyrgyzstan launched the construction of a joint solar power production enterprise on Issyk Kul lake, worth around $35 million, Trend reports, citing Kyrgyz media. In total, the parties plan to build several solar stations in Kyrgyzstan with a total capacity of 300 MW. The agreement on the construction of […]
CBA presents roadmap on financial services for 2023
BAKU, Azerbaijan, At the meeting of the working group of the Central Bank of Azerbaijan (CBA) on the development of financial markets and the availability of loans, the Commission on Business Environment and International Rankings was presented with information on the draft action plan of the working group for 2023 and the roadmap for 2023 […]
CBA records growth in Azerbaijan’s foreign exchange reserves
BAKU, Azerbaijan, Azerbaijan’s strategic foreign exchange reserves increased by 12.3 percent, or $6.5 billion, from January through November 2022, and amounted to $59.8 billion, Trend reports citing the Central Bank of Azerbaijan (CBA). For the first nine months of this year, a surplus of 30.7 percent of GDP was formed on the current account […]
Market approach support in certain sectors to help achieve green growth in Azerbaijan
BAKU, Azerbaijan, The key message of the World Bank’s “Azerbaijan: Towards Green Growth” report is to support private investments in green economic sectors, Kseniya Lvovsky, Practice Manager for Environment, Natural Resources, and Blue Economy in the Europe and Central Asia Sustainable Development Department of the WB, told Trend. According to the expert, this could […]
CBA talks ratio of budget expenditures to GDP in 2023
BAKU, Azerbaijan, The Central Bank of Azerbaijan (CBA) expects that next year the ratio of state budget expenditures to GDP will exceed 30 percent, Trend reports citing the CBA. According to the bank, in 2023, public demand will play a huge role in supporting economic activity. If the budget rule continues to be applied […]
Central Bank of Azerbaijan to organize auctions of reverse REPO operations
BAKU, Azerbaijan, As a part of operations on the open market aimed at the provision of liquidity, seven-day reverse REPO auctions are planned, Trend reports referring to the CBA. The bank said that since September of this year, the use of new monetary policy tools has begun. In this direction, the range of operations […]
Azerbaijan approves Action Plan for Civil Service Development
BAKU, Azerbaijan, President of the Republic of Azerbaijan Ilham Aliyev signed a decree approving the Action Plan for 2023-2025 for the implementation of the “Strategy for civil service development in the Republic of Azerbaijan for 2019-2025”, Trend reports. According to the decree, the State Examination Center was instructed to: – coordinate the implementation […]
CBA announces dates of consideration of monetary policy in 2023
BAKU, Azerbaijan, The Central Bank of Azerbaijan (CBA) plans to review its monetary policy eight times in 2023, Trend reports referring to the bank. The CBA’s decisions on the parameters of the interest rate corridor will be made public on February first, March 29, May 3, June 21, July 26, September 20, November 1, […]
Azerbaijan improving issuance, extension of work permits for foreigners in liberated areas
BAKU, Azerbaijan, Azerbaijan is improving the procedure for issuing and extending work permits for foreigners and stateless persons involved in labor activities in the liberated territories, Trend reports via the State Migration Service. The relevant amendments to the Migration Code and the Law of the Republic of Azerbaijan “On State Duty” will be valid […]
Turkmenistan launches sea feeder transportation on Turkmenbashi – Baku line
BAKU, Azerbaijan, Marine Merchant Fleet CJSC of Turkmenistan from January 1, 2023 will launch feeder container transportation on the route Turkmenbashi – Baku – Turkmenbashi, Trend reports citing Orient news. Tariffs for transit transportation of containers by sea through Turkmenistan: a 20-foot container – $220, a 40-foot container – $270 and a 45-foot container […]
Azerbaijan’s monetary policy aimed at ensuring price stability in 2023 – CBA
BAKU, Azerbaijan, Azerbaijan’s monetary policy in 2023 will further be aimed at ensuring price stability, Trend reports referring to the CBA. As a result of deliberate policy pursued under the leadership of President Ilham Aliyev, in general, in 2022 macroeconomic stability was maintained and economic growth continued. The CBA’s operating environment in 2022 […]
Azerbaijan to make purchase and sale of precious stones, metals cashless
BAKU, Azerbaijan, In Azerbaijan, the monetary amount is determined, in excess of which the purchase and sale of products made of precious stones and metals will be carried out only in a non-cash form, Trend reports. This matter was reflected in the “On targeted financial sanctions” draft law that was discussed at today’s session […]