EBRD raises forecast of economic growth in Azerbaijan

The European Bank for Reconstruction & Development (EBRD) has raised its forecast for Azerbaijan's GDP growth in 2024 to 3.8% from 3.1% in May

Abolition of double taxation with Slovakia may come into force in 2025

The agreement on the abolition of double taxation between Azerbaijan and Slovakia is likely to enter into force on January 1, 2025

ADB raises forecast on Azerbaijan's GDP growth

The Asian Development Bank (ADB) has raised the forecast of economic growth in Azerbaijan for 2024 up to 2.7% - by 1.5 percentage points compared with the April report.

Azerbaijan and China discussed joint activities in various fields

The sides exchanged views on investments in Azerbaijan by Chinese companies and the development of cooperation in various fields.

Level of UK public debt reaches 100% of GDP

The level of the public sector debt in the UK, according to preliminary estimates, reached 100% of the country's GDP in August.

Azerbaijan to impose a new type of tax

Azerbaijan is considering the introduction of a carbon tax.

Iran's economic growth has halved

Iran's economic growth has almost halved compared with 2023.

Azerbaijan-Iraq trade turnover has grown by 49% in 7 months

About 170 Iraqi companies are working in various industries in Azerbaijan, ABC.AZ reports, quoting Azerbaijani Economy Minister Mikayil Jabbarov during the Azerbaijani-Iraqi business forum in Baku.

Goldman Sachs and Citigroup lowered their forecasts for China's economic growth

Goldman Sachs and Citigroup lowered their forecasts for China's economic growth for the full year up to 4.7%, after industrial production in the world's second largest economy slowed to a five-month low in August.

In Russia, video cards for mining become a popular subject for collateral

Russians have become more likely to pawn video cards for mining cryptocurrencies secured by loans

Azerbaijan increased production of metallurgical industry products

The metallurgical industry and the manufacture of finished metal products in the country made output for 887.4 million manats for Jan-Aug 2024.

New products to be produced in this industrial park

Residents of the Pirallakh Industrial Park in Azerbaijan plan to expand production of medicines, dietary supplements and components for medicines

Authorized capital of STP increased up to 700 million manats

The authorized capital of Sumgayit Technology Park (STP) LLC has been increased for the fourth time this year up to 700 million manats.

Azerbaijan's GDP grew by 4.3% in 8 months

Our country produced GDP of 80.96 million manats for Jan-Aug 2024, or 4.3% more versus Jan-Aug 2023.

Fitch has raised its forecast on global economic growth this year up to 2.7%

Fitch Ratings has raised its forecast on global economic growth this year up to 2.7% (0.1 percentage points more than the June forecast).

ING Group forecasts economic growth in Azerbaijan for next year

The Netherlands-based ING Group has released its latest economic growth projections for Azerbaijan, forecasting a growth rate of 3.5% in 2024, 2.6% in 2025, and 2.8% in 2026.

Azerbaijan to use large language models

Azerbaijan is preparing to introduce large language models.

China increased exports and imports in August – Figures

Work underway to determine scope of application of environmental and ‘green’ taxes

In Azerbaijan, in order to combat climate change and expand the use of "green" technologies, work is underway to determine the scope of application of environmental and "green" taxes

Minister outlined issues that should be addressed so that SMEs contribute to ‘green’ economy

Ensuring energy efficiency is a key factor through which small and medium-sized businesses (SMEs) in Azerbaijan will be able to contribute to the development of a "green" economy.

Inflation in China in August accelerated up to 0.6% - the highest since February

In August, consumer prices (CPI) in China increased by 0.6% year-on-year, the fastest pace since February, ABC.AZ reports, referring to the State Statistical Office of the People's Republic of China.