ECONOMY

Azerbaijan Railways CJSC is changing the schedule for the Baku-Balakan-Baku route in both directions starting from July 1. This was reported to elchi by ADY. According to the change, the train will depart from Baku at 23:30 (instead of 23:50) and from Balakan at 21:10 (instead of 22:00).

In 2025, the specific weight of socially-oriented expenditures in the composition of state budget expenditures increased by 601.5 million manats or 4.1% compared to 2024, amounting to 15 billion 254.2 million manats (39.5%). “Elchi” reports that this was noted in the annual report on the execution of the 2025 state budget. Last year, 9 billion […]

Over the last four years, the share of funds allocated to education in the state budget expenditures has increased by 1 billion 527.3 million manats (49.4%). elchi reports that this was noted in the annual report on the execution of the 2025 state budget. Of the funds used for education expenses, 2 billion 306.9 million […]

Azerbaijan Railways (ADY) CJSC is expanding passenger transport capacity on the Baku-Tbilisi-Baku train to meet high passenger demand. According to the information provided to elchi by ADY, due to the increased demand for train travel during the summer season, which is a period of holidays and vacations, additional carriages will be attached to trains departing […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. According to elchi, on June 10, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira stood at 0.0369 manats. In turn, the Euro appreciated to 1.9628 manats, and 100 Russian rubles rose to 2.3656 manats. 1 US dollar USD […]

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 […]