ECONOMY

The US Energy Information Administration (EIA) under the Department of Energy has updated its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2026-2027. According to elchi, citing the EIA’s monthly report, the average daily production of oil and other liquid hydrocarbons in the country in 2027 will be […]

SİMA, one of the key platforms within the digital solutions ecosystem provided by AzInTelekom, currently has nearly 7 million users. elchi reports that this was stated by Farrukh Farajullayev, Director of the Commercial Department at AzInTelecom, during his speech at the “International Finance and Banking Summit 2026” held in Baku. According to him, although the […]

On June 16-19, the Islamic Development Bank (IsDB) Group will host its 14th Private Sector Forum (PSF 2026) in Baku. “Elchi” reports that the forum will be organized by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), the Islamic Corporation for the Development of the Private Sector (ICD), and the International […]

From 2021 to 2025, the number of transactions processed in the Instant Payment System (IPS) in Azerbaijan increased 86 times, reaching approximately 10 million from 116 thousand. “Elchi” reports that Tofiq Acirqayev, Lead Software Engineer and Payment System Administrator at the Central Bank, stated this during his speech at the “International Finance and Banking Summit […]

A hearing on agriculture will be held in the Milli Majlis in the coming days. “Elchi” reports that this was stated by the committee chairman Azer Amiraslanov during the discussion of the draft law “On the execution of the state budget of the Republic of Azerbaijan for 2025” at today’s meeting of the Milli Majlis […]

A legal basis is being created for the exchange of state-owned property (including state lands) with privately owned property, including land plots, based on mutual agreement. elchi reports that this is reflected in the draft law “On amendments to the Land Code of the Republic of Azerbaijan, the Civil Code of the Republic of Azerbaijan, […]

“Our strategic foreign exchange reserves have reached $88.4 billion”. elchi reports that Minister of Finance Sahil Babayev stated this during the discussion of the draft law “On the execution of the state budget of the Republic of Azerbaijan for 2025” at today’s meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship. The […]

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 0.61 USD or 0.61%, reaching 100.09 USD. It should be noted that the previous price of Azerbaijani oil was 99.48 USD. Let us recall that in Azerbaijan’s […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi‘s information states that on June 9, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira was 0.0369 manats. In turn, the Euro increased to 1.9627 manats, and 100 Russian rubles increased to 2.3231 manats. 1 US dollar USD […]

The value of futures for one troy ounce (31.1 grams) of gold has decreased in commodity markets. elchi reports, citing stock exchange data, that the value of August 2026 futures for one troy ounce of gold on the New York COMEX exchange decreased by 0.3% to 4350.2 US dollars. The price of July 2026 futures […]