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Tag Archives: Azerbaijan economy

Russia’s Penoplex opens $11 mln insulation panel plant in Azerbaijan


Russia’s Penoplex Group has opened a plant in Azerbaijan’s Hajikabul district to manufacture thermal insulation panels, Azernews reports, citing Interfax. The company invested AZN18.4 million (about $10.8 million) in the Penoplex Prikavkazye plant, which was built on 6.7 hectares in the Hajikabul industrial quarter, Azerbaijan’s Economic Zones Development Agency reported. The plant …

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Minister: Tax revenues to state budget equal $6.1bn

Mikayil Jabbarov

The tax revenues to the state budget equaled AZN10.4 billion ($6.1bn) in January-September 2022, Azerbaijan’s Economy Minister Mikayil Jabbarov said, Azernews reports. He added that this amount is AZN4bn ($2.4bn) or 64.5 percent more than during the relevant period of 2021. “In January-September of 2022, the tax revenues to the …

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Azerbaijani FM receives newly appointed ambassador of Afghanistan


Azerbaijan’s Foreign Minister Elmar Mammadyarov received Khairullah Spelenai, the newly appointed Ambassador of the Islamic Republic of Afghanistan to the Republic of Azerbaijan.Minister Elmar Mammadyarov congratulated Ambassador Khairullah Spelenai on his appointment as an Ambassador to Azerbaijan and wished him success in his future activities.At the meeting, discussed were bilateral …

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Azerbaijan’s economy growing, says Fitch report


Fitch Ratings, an international rating agency, has noted improvement in the macroeconomic conditions in Azerbaijan, the agency said in a message.The message reads that in January-September 2018, the economy of Azerbaijan grew by 0.8 percent year-on-year, while the growth rate of non-oil GDP was one percent.Inflation fell sharply from 12.9 …

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Azerbaijani economy grows nearly 1%

Azerbaijan’s GDP volume reached almost 65.2 billion manats in January-October 2018 that is 0.8 percent more than in January-October 2017, according to a report of the State Statistics Committee.The volume of GDP per capita stood at 6,648.1 manats.In January-October 2018, the volume of GDP produced in the non-oil sector of …

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