Buying and selling land by proxy is fraught with difficulties

Some citizens buy land by proxy and build houses without taking into account future risks.

Production of this output in industrial sector has fallen — Report

Industrial enterprises and individual entrepreneurs working in this field produced industrial output for 15.7 billion manats for Jan-Mar 2024.

Industrial production in non-oil/gas sector increased

The industrial enterprises of Azerbaijan and private entrepreneurs working in this field produced industrial output for 15.7 bn mantas for Jan-Mar 2024.

Dept of Nakhchivan Ministry of Economy under liquidation

A department is being liquidated in Nakhchivan.

Azerbaijan's GDP growth makes up 4% in 1st quarter

Over Jan-Mar 2024, Azerbaijan produced GDP for 29.96 bn mantas (4% more against Jan-Mar 2023), ABC.AZ reports with reference to the State Statistics Committee.

Financing of entrepreneurs' projects in NAR increased 2.5-fold

The Entrepreneurship Development Fund under the Ministry of Economy financed 8 agricultural projects in the Nakhchivan Autonomous Republic (NAR) for Jan-Mar 2024.

Azerbaijan's Economic Council discusses goals and challenges for 2024-30

The Economic Council of Azerbaijan has conducted a regular meeting.

Additional investments made in Sumgait Technology Park company

The authorized capital of STP Metal Structures LLC, a subsidiary of the Sumgait Technology Park, has been increased.

India could overtake China in economic growth by 2028

India may overtake China in terms of economic growth by 2028, ABC.AZ reports, referring to Bloomberg.

Income of insurer Aqrar Sığorta decreased by 35%

Aqrar Sığorta Müştərək Sığorta Şirkəti OJSC completed 2023 with net profit of 57,194 manats. In 2022, the company made profit of 170,150 manats (almost 3-fold less than a year earlier).

Receipts for compulsory health insurance in Nakhchivan grew for Q1

Tax revenues exceed 4 bn mantas for Q1

Over Jan-Mar 2024, the State Budget received 4.28 bn manats of taxes from the State Tax Service

Investments for at least 34 million manats needed for production of tobacco products

Azerbaijan establishes the new requirements for production of tobacco output.

An order signed on additional measures to ensure activity of Alat FEZ

Azerbaijani President Ilham Aliyev has signed an order on additional measures to ensure the operation of the Alat Free Economic Zone (FEZ).

A Russian company constructs a modern plant in Azerbaijan

Novosibirsk manufacturer of composite cladding panels (Russia) is building a modern plant in Alat Free Economic Zone.

Cardboard production begins in Sumgait

UPI - Universal Packing Industry CJSC, a resident of the Sumgait Chemical Industrial Park, has started production of cardboard, ABC.AZ reports, quoting company’s director Fikret Veliyev.

Azeraluminium's earnings have increased

Over Jan-Feb 2024, Azeraluminium LLC exported output for $21.4 million.

Georgia's GDP grew by 9.5% in February

This February, Georgia's real GDP increased by 9.5% compared with February 2023.

New appointment at State Tax Service

The new appointment has been carried out at the State Tax Service.

They are exempt from income tax

By 2035, Chinese economy to be able to become world’s largest economy

By 2035, China's economy may become the largest in the world, displacing the U.S. from the 1st place.