ECONOMY

Participants of the event dedicated to “Entrepreneur’s Day” on the topic “Development of entrepreneurship is a strong economy” have addressed the President of Azerbaijan Ilham Aliyev. “Elchi” reports that the text of the appeal was read by Sevda Əlizadə, Executive Director of Malham International Hospital.

The World Bank has raised its gold price forecasts for 2026 and 2027. “Elchi” reports this with reference to the Bank. According to the forecast, the average price of gold is expected to be $4,700 per troy ounce in 2026. This represents a 37% increase compared to 2025. Compared to the World Bank’s previous forecast […]

The price of “Azeri Light” (CIF) brand Azerbaijani oil has increased in world markets. elchi reports that the price of 1 barrel of Azerbaijani oil has increased by 2.04 US dollars, or 1.79%, to 115.89 US dollars. It should be noted that the previous price of Azerbaijani oil was 113.85 US dollars. Recall that in […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi‘s information states that on April 29, the exchange rate of the US dollar remained unchanged at 1.7000 manats, and the Turkish lira was 0.0377 manats. The Euro depreciated to 1.9899 manats, and 100 Russian rubles depreciated to 2.2600 manats. Currency Code Rate 1 […]

The value of futures for one troy ounce (31.1 grams) of gold has increased in commodity markets. “Elchi” reports, citing stock exchange data, that the value of June 2026 gold futures per troy ounce on the New York COMEX commodity exchange increased by 0.22% to 4,618.55 US dollars. The price of May 2026 silver futures […]

Duty-free trade special customs procedure and its scope are being defined. “Elchi” reports that this is reflected in the new Chapter 33-1 proposed to the Customs Code, which will be submitted for discussion at the Milli Majlis meeting to be held on May 1. According to the draft, duty-free trade is a special customs procedure […]

Customs representation is being institutionalized again, the concept of “customs broker” is being replaced by “indirect customs representation”, a registry will be created, direct customs representation will be introduced, and the license requirement for this field will be abolished. elchi reports that this is reflected in the proposed amendment to the Customs Code, which will […]

The customs value of goods will be declared in national currency. elchi reports that this is reflected in the new Article 220.3 proposed to the Customs Code, which will be discussed at the Milli Majlis meeting to be held on May 1. According to the draft, the customs value of goods will be declared in […]

As of April 1, eurobonds accounted for 1 billion 387.3 million dollars of Azerbaijan’s external public debt. “Elchi” reports, citing the Ministry of Finance, that this is equal to 29.5% of the external public debt. It should be noted that the maturity date for 310.7 million dollars of the eurobonds in circulation is 2029, and […]

“The increase in oil and gas prices will have a positive impact on Azerbaijan’s external and public finances and could contribute to an acceleration of economic growth in 2026.” elchi reports that this was stated in a report by the international rating agency “Fitch Ratings”. The report notes that the rise in hydrocarbon prices against […]