Record foreign trade deficit in Turkish economy

Ali Asadov signs order on preparation of draft state budget for 2024

Azerbaijani Prime Minister Ali Asadov signed an order on the preparation of the Draft State Budget for 2024, the concept of economic & social development of the country and medium-term forecasts.

4 enterprises to start operating in Sumgait Chemical Industrial Park

In 2023, four enterprises are planning to start production activities in the Sumgait Chemical Industrial Park.

Start date of first enterprise in Araz Valley economic zone announced

It was announced that the first enterprise in industrial park “Araz Valley Economic Zone" will begin work at the end of 2023.

Financial sanctions for AZN 2.7 million applied to taxpayers

In 2022, 317 control measures were carried out for 170 taxpayers operating in various fields of activity, including import, wholesale and retail trade, production, catering, according to the results of which 413 violations were revealed.

68 new state standards adopted last year

Data unveiled on output produced in industrial zones of Azerbaijan

To date, products for more than AZN 8.8 bn have been manufactured in the industrial zones of Azerbaijan, and output for AZN 2.9 bn have been directed for export

IMF improves its forecast on global economic growth up to 2.9% in 2023

The IMF has improved its forecast on global GDP growth up to 2.9% in 2023 and worsened to 3.1% in 2024.

IMF worsens U.S. economic growth forecast for 2024

The IMF expects U.S.’ GDP to increase by 1.4% in 2023, and growth rates are projected at 1% in 2024.

IMF has improved forecast on Russia

The International Monetary Fund has revised its assessment of Russia's economic growth towards improvement and forecasts Russian GDP growth of 0.3% in 2023 and 2.1% in 2024.