Goldman lowers its estimate of probability of recession in U.S.

Goldman Sachs Group analysts now estimate the probability of recession in the US economy in the next 12 months at 20% against the previous estimate of 25%.

Automobile production exempt from VAT in Azerbaijan

Azerbaijani President Ilham Aliyev has approved the amendments to the Tax Code.

Inflation report to be prepared monthly in Azerbaijan

Measures will be taken to improve price monitoring in the country.

Butter production increased by 6%

Azerbaijan produced 13,513.2 tons of butter for Jan-Jun 2023.

Chemical industry production reduced by 20%

Azerbaijan produced chemical industry output for AZN 741.6 million for Jan-Jun 2023.

What does Azerbaijan do to develop religious tourism?

Out of 452,359 foreign tourists who arrived in Azerbaijan in the first 5 months of this year, 802 people (0.18%) visited Azerbaijan for religious purposes.

Tax revenues in the NAR increased by 36%

Azerbaijan’s budget surplus increased 11.6%

Azerbaijan’s GDP grew by 0.5% for past 6 months

Over Jan-Jun 2023, Azerbaijan produced GDP for AZN 60.3 bn ($35.4 bn), 0.5% more year-on-year, ABC.AZ reports with reference to the State Statistical Committee.

Industrial production reduced for past 6 months

Over Jan-Jun 2023, industrial enterprises and private entrepreneurs of Azerbaijan produced industrial output for AZN 34.7 bn, or 1.6% less against Jan-Jun 2022.

President Ilham Aliyev has held a meeting

President of the Republic of Azerbaijan Ilham Aliyev has chaired a meeting dedicated to the socio-economic results of six months of 2023.

German inflation accelerates up to 6.8% in June

Consumer prices in Germany, harmonized with EU standards, increased by 6.8% year-on-year in June.

New departments created in Nakhchivan

New departments have been created in the Nakhchivan Autonomous Republic.

Hungarian company to build a factory on production of energy drinks in Azerbaijan

A shareholders agreement has been signed between Azerbaijan Investment Company and Hell Energy (Hungary).

India to become world’s 2nd largest economy by 2075

India's GDP will reach $52.5 trillion by 2075, as a result, the country will take 2nd place in this indicator.

In 2023, AZN 3.9 bn paid for pensions, allowances and scholarships of population

AZN 3.94 bn paid for pensions, allowances, scholarships and targeted state social assistance over Jan-Jun 2023 (21.4%, or AZN 695 million) more against Jan-Jun 2022.

Shakhbulag limestone deposit put into operation in Aghdam

Shakhbulag limestone deposit, located on the territory of Aghdam district, has been put into operation.

Financial Monitoring Service’s income reduced by 9.7% in 2022

The Financial Monitoring Service received revenues of AZN 2.751 million for 2022 (9.7% less than in 2021)

4 plants for production of medicines under construction in Azerbaijan

Four plants for manufacture of medicines are being built in Azerbaijan.

Taxes to increase in Türkiye

In Türkiye, it is planned to raise taxes for local banks and companies to compensate for part of the budget deficit exacerbated by the devastating earthquakes.

AzerGold's sales revenue exceed AZN 1.28 bn