ECONOMY

President of the Republic of Azerbaijan Ilham Aliyev participated in the opening and foundation laying ceremonies of a number of production facilities in Sumgayit Industrial Park on January 27. Industrial parks are becoming one of the new drivers of economic development in Azerbaijan. On the one hand, industrial parks contribute to meeting local demand, and […]

An Agreement Memorandum has been signed between “Azerbaijan Railways” CJSC (ADY), which is one of the AZCON Holding companies, and the Turkish State Railways (TCDD). According to the information provided to Elchi.az from ADY, the purpose of the memorandum signed by ADY Chairman Rovshan Rustamov and TCDD Chairman of the Board and General Director Veysi […]

The procedure for monitoring the implementation of the State Program on water supply in Baku has been determined. Elchi.az reports that this is reflected in the order signed by Prime Minister Ali Asadov “In order to ensure the implementation of Order No. 883 of the President of the Republic of Azerbaijan dated January 12, 2026 […]

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has increased its gold assets to 200 tons. Elchi.az reports this with reference to the Fund. According to the information, the Fund purchased an additional 15.2 tons of gold in the last quarter of last year. In total, gold investments constituted 28 billion 63.2 million […]

As of January 1 this year, Azerbaijan’s strategic foreign exchange reserves reached $85 billion 56.4 million. Elchi.az reports that by the end of last year, the assets of the State Oil Fund of Azerbaijan (SOFAZ) reached 73 billion 541.5 million US dollars. 11 billion 514.9 million dollars of strategic foreign exchange reserves fell to the […]

The assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) amounted to 60,031.4 million US dollars (102,053.3 million manats) at the beginning of 2025, and as of December 31, 2025, it reached 73,541.5 million US dollars (125,020.5 million manats), increasing by 22.5% compared to the beginning of the year. Elchi.az reports with […]

Azerbaijani oil of the “Azeri Light” (CIF) brand has become cheaper in world markets. Elchi.az reports that the price of 1 barrel of Azerbaijani oil decreased by 0.48 US dollars or 0.7% to 67.86 US dollars. It should be noted that the previous price of Azerbaijani oil was 68.34 US dollars. It should be reminded […]

Azerbaijan has achieved remarkable digital transformation over the past five years through the “Online Azerbaijan” project. Elchi.az reports that this was stated by Deputy Minister of Digital Development and Transport Samaddin Asadov during his speech at the “Azerbaijan-Connectivity in the Hospitality Sector” Summit. He noted that this initiative, launched in 2021 as part of the […]

Minister of Energy Parviz Shahbazov met with Charles Cormier, World Bank Regional Director for Infrastructure in Europe and Central Asia, as well as Roland Price, Regional Director for the South Caucasus. According to the information provided to Elchi.az from the Ministry, the current projects implemented in the energy sector of Azerbaijan, new cooperation opportunities, including […]

The Central Bank of Azerbaijan has announced today’s exchange rates. According to Elchi.az, on January 27, the exchange rate of the US dollar remained unchanged at 1.7000 manats, and the Turkish lira was 0.0392 manats. The Euro rose to 2.0185 manats, while 100 Russian rubles fell to 2.2222 manats. 1 US dollar USD 1,7 1 […]