ECONOMY

NEWS

The US has caused $178 billion in damage to Cuba

— ECONOMY, WORLD
From March of last year to February of this year, the damage caused to Cuba by the US trade, economic, and financial blockade has exceeded $8.83 billion. “Elchi” reports that this was stated by Cuban Foreign Minister Bruno Eduardo Rodríguez Parrilla at a press conference. According to him, the current figure is 7% higher than […]
NEWS

Georgia and Kazakhstan discussed increasing cargo turnover in the Middle Corridor

— ECONOMY, NEWS FEED, WORLD
Georgia and Kazakhstan discussed increasing cargo turnover in the Middle Corridor. “Elchi” reports that Georgia’s Deputy Minister of Economy and Sustainable Development, Tamar Ioseliani, met with Erlan Koishibayev, Deputy Chairman of the Board of Directors of Kazakhstan Railways, and Aybek Kapar, acting CEO of “KTZ Express”. The parties discussed the current state of cooperation between […]
NEWS

Erdogan: As long as the knot in the Strait of Hormuz remains untied, oil prices will cause difficulties for everyone

— ECONOMY, NEWS FEED, WORLD
The start of a war by the US and Israel against Iran, and the current clashes between America and the Islamic Republic in the Strait of Hormuz, as well as the closure of this waterway, have caused inflation worldwide. “Elchi” reports that this issue was highlighted in the speech of Turkish President Recep Tayyip Erdogan. […]
NEWS

The first day of the Fourth Climate Week in Baku has concluded – PHOTO

— ECONOMY
Today, the first day of the Fourth Climate Week of the UN Framework Convention on Climate Change (UNFCCC) has concluded in Baku. “Elchi” reports that the first day of the event, which will continue until September 11, is dedicated to the theme “Energy transition, climate finance, and industrial decarbonization.” Throughout the day, sessions were held […]
NEWS

CBA’s foreign exchange reserves have reached a record high

— ECONOMY
The official foreign exchange reserves of the Central Bank of Azerbaijan (CBA) increased in the first 8 months of 2026. “Elchi” reports, citing the CBA, that as of August 31, the Central Bank’s official foreign exchange reserves amounted to 15.3 billion US dollars. At the end of last year, this figure was 11.5 billion dollars. […]
NEWS

224.2 million manats returned from the state budget in 8 months

— ECONOMY
In January-August 2026, a total of 224 million 195.4 thousand manats was returned from the state budget to individuals and legal entities. elchi reports that the returned funds include a portion of the VAT paid by individuals for goods purchased from retail and catering facilities, cultural and medical services, as well as hotel services in […]
NEWS

GECF: Azerbaijan is one of the main sources of associated gas in Eurasia

— ECONOMY
Azerbaijan and Kazakhstan play an important role in providing a significant portion of the associated gas supplied to the commodity gas market in Eurasia. This is reported by “Elchi” with reference to the report of the Gas Exporting Countries Forum (GECF). It is noted that the Azeri-Chirag-Gunashli complex in Azerbaijan and large oil production projects […]
NEWS

New areas for agricultural subsidies in Azerbaijan have been announced

— ECONOMY
New subsidy mechanisms and state support amounts for agriculture in Azerbaijan have been determined. elchi reports that, by the decision of the Agrarian Subsidy Council, new subsidies will be applied in the fields of livestock and fisheries, in addition to crop production. According to the decision, a subsidy of 400 manats per hectare will be […]
NEWS

A new power center is being built for Baku’s growing energy demand

— ECONOMY
In order to meet the requirements of the Master Plan for the development of Baku city until 2040, the expanding “Sea Breeze” project, as well as the growing energy demand of Baku and the Absheron Peninsula, “AzerEnergy” is constructing a substation at the border of Pirshagi and Novkhani settlements with a voltage of 220/110/10 kilovolts […]
NEWS

Construction of the Aghband–Kalala road bridge completed

— ECONOMY
“Construction of the Aghband–Kalala road bridge has been completed”. “Elchi” reports that this was announced during a telephone conversation between the Deputy Prime Minister of the Republic of Azerbaijan, Shahin Mustafayev, and the Minister of Roads and Urban Development of the Islamic Republic of Iran, Farzaneh Sadegh. “In particular, the completion of the construction of […]