Day: February 17, 2025

Riga: The Baltic States (Lithuania, Latvia, and Estonia) have officially disconnected from the Russia-led BRELL (Belarus, Russia, Estonia, Latvia, Lithuania) power grid and successfully integrated into the European network. This significant shift marks the end of their reliance on Russian energy as they join the Continental European synchronous zone through the Lithuania-Poland power transmission line, … Read more

Baku: The Central Bank of Azerbaijan has released the latest exchange rates, providing insights into the value of various currencies against the Azerbaijani manat. According to Azeri-Press News Agency, as of February 17, 2025, the exchange rate for the US dollar remains unchanged at AZN 1.7000. The Turkish lira is valued at AZN 0.0470. The … Read more

Baku: In a significant development for Azerbaijan’s economy, the country exported 1,200 kg of sturgeon caviar in 2024, generating revenues of USD 1,242,500, APA-Economics reports. According to Azeri-Press News Agency, calculations based on the State Statistics Committee’s report, this marks an 85% increase in the volume of exported caviar compared to the same period last … Read more

Baku: The international rating agency S and P Global Ratings has revised its economic growth forecast for Azerbaijan, projecting a more optimistic outlook for 2026, APA-Economics reports citing the rating agency. According to Azeri-Press News Agency, S and P Global Ratings has maintained its forecast for Azerbaijan’s real GDP growth at 2% for 2025 but … Read more

Baku: S and P Global Ratings international rating agency has forecasted that the credit portfolio of banks in Azerbaijan will increase by approximately 15% in 2025, APA-Economics reports citing the rating agency. According to Azeri-Press News Agency, it was noted that credit growth in Azerbaijan is correlated with oil prices. Credits increased by 18% in … Read more

Baku: The acceptance of applications for the Hajj pilgrimage will proceed until the available quota is filled, as stated by the head of the Foreign Relations Department of the Caucasian Muslims Office (CMO) and the head of the Hajj electronic system, Vusal Jahangiri, in an interview with APA. According to Azeri-Press News Agency, Jahangiri mentioned … Read more

Riyadh: The Chairman of the Central Bank of Azerbaijan, Taleh Kazimov, has announced the main consequences of the current geopolitical situation for Azerbaijan during his speech at the “AlUla Conference for Emerging Market Economies” conference held in Riyadh. According to Azeri-Press News Agency, Taleh Kazimov stated that the geopolitical tensions have led to increased inflation … Read more

Baku: President Ilham Aliyev has signed a Decree approving the “Agreement on cooperation in the field of tourism between the Government of the Republic of Azerbaijan and the Government of the Republic of Trkiye”. According to Azeri-Press News Agency, the Decree is guided by paragraph 17 of Article 109 of the Constitution of the Republic … Read more

Baku: President Ilham Aliyev has given his approval to a memorandum focused on enhancing cooperation in the field of statistics between Azerbaijan and Vietnam. The agreement, titled the ‘Memorandum of Understanding on Cooperation in the Field of Statistics between the State Statistical Committee of the Republic of Azerbaijan and the General Statistics Office of Vietnam,’ … Read more