ECONOMY

Targeted budget funds created within the state budget of the Republic of Azerbaijan will be abolished. elchi reports that this is reflected in the Decree of President Ilham Aliyev “On additional measures regarding the use of targeted budget funds created within the state budget and extra-budgetary funds of organizations financed from the state budget.” According […]

President Ilham Aliyev has signed a Decree “On additional measures regarding the use of targeted budget funds created within the state budget and extra-budgetary funds of organizations financed from the state budget.” According to “Elchi”, the Decree establishes that the portion of extra-budgetary funds of organizations financed from the state budget (excluding the Ministry of […]

Another shipment from Russia to Armenia has been carried out via transit through Azerbaijan. “Elchi” reports that 20 wagons of barley weighing 1400 tons and 21 wagons of wheat weighing 1469 tons were sent from Bilajari station in the direction of Boyuk Kasik. It should be noted that so far, nearly 60 thousand tons of […]

As of August 1, 2026, the number of wage earners in Azerbaijan was 1,781.1 thousand, of which 836.9 thousand worked in the public sector and 944.2 thousand in the non-public sector. According to the information provided to elchi by the State Statistical Committee, 18.9 percent of wage earners were employed in trade and repair of […]

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 5.14 dollars, or 4.75%, reaching 113.32 US dollars. It should be noted that the previous price of Azerbaijani oil was 108.18 US dollars. Recall that in this […]

The price of futures quotes for natural gas on the New York “NYMEX” commodity exchange has decreased. “Elchi” reports that the price of futures for natural gas with delivery in October 2026 decreased by 1.13% to 2.79 US dollars per 1 million BTU (British thermal unit).

Traffic congestion is observed on some roads in Baku. elchi reports that the Intelligent Transport Management Center (ITMC) has released information regarding this. Current traffic situation: 1. Ziya Bunyadov Avenue, from in front of Baku Olympic Stadium to the intersection with Ahmad Rajabli Street; 2. Ziya Bunyadov Avenue, from the intersection with Abdulvahab Salamzade Street […]

Sacha Backes has been appointed as the head of the unified country representation of the World Bank Group (WB) in Azerbaijan. “Elchi” reports that Sacha Backes has been appointed as the new head within the framework of the World Bank Group’s transition to a unified country representation model in Azerbaijan. Although it was initially reported […]

In January-August 2026, the gross domestic product (GDP) of Azerbaijan amounted to 87 billion 709.5 million manats. “Elchi” reports, citing the State Statistical Committee, that this is 1.2% more in real terms compared to the same period last year. During the reporting period, value added in the oil and gas sector decreased by 0.8%, while […]

In January-August 2026, the consumer price index in Azerbaijan increased by 5.7% compared to the same period last year. “Elchi” reports, citing the State Statistical Committee, that the average annual inflation in the country stood at 5.7%. It should be noted that the average annual inflation was also 5.7% in January-July 2026.