ECONOMY

Two new services have been launched on the “mygov” platform to expand the scope of digital services provided to citizens. The Innovation and Digital Development Agency (IRDA) told Elchi.az about this. According to the information, users can now digitally submit applications for special permits for the circulation of civil unmanned aerial vehicles (UAVs) and for […]

During trading operations on the ICE London Intercontinental Exchange, the value of March 2026 contract for Brent oil exports increased by 0.08% to $63.39 per barrel. According to Elchi.az, the price of 1 barrel of WTI oil for export in March 2026 on the New York Mercantile Exchange “NYMEX” also increased by 0.37% to $59.16.

The Central Bank of Azerbaijan has announced today’s exchange rates. According to Elchi.az, on January 12, the exchange rate of the US dollar remained unchanged at 1.7000 manats, and the Turkish lira was 0.0394 manats. The Euro rose to 1.9816 manats, and 100 Russian rubles rose to 2.1521 manats. 1 US dollar USD 1,7 1 […]

The official exchange rate of the manat against the US dollar, determined by the Central Bank of Azerbaijan (CBA), remained unchanged this week. According to Elchi.az, the weekly average exchange rate was 1.7000 manat. Official exchange rate of manat against US dollar 29 December 1.7000 5 January 1.7000 30 December 1.7000 6 January 1.7000 31 […]

Azerbaijani oil of the “Azeri Light” (CIF) brand has risen in price in world markets. Elchi.az reports that the price of 1 barrel of Azerbaijani oil increased by 2.87 US dollars or 4.37% to 68.51 US dollars. It should be noted that the previous price of Azerbaijani oil was 65.64 US dollars. It should be […]

“Azerbaijan Railways” CJSC (ADY), one of the AZCON Holding companies, carried more than 10 million passengers on domestic routes and the Absheron circular railway in 2025, exceeding the results of 2024 by 20%. This was reported by Elchi.az, referring to ADY. According to the information, 21% more passengers were transported in December of last year […]

The next meeting of the Working Group established to improve activities in the field of digital management and electronic information systems in the Ministry of Finance of the Republic of Azerbaijan was held. Elchi.az was informed about this by the Ministry of Finance. Speaking at the meeting, Minister of Finance Sahil Babayev said that large-scale […]

The average price forecast for Brent oil for the first quarter of 2026 is 58 US dollars. Elchi.az reports that this was stated in the forecast of the largest Dutch financial group “ING Group”. ING believes that oil prices will continue to decline towards the end of 2026. Thus, the oil price for the second […]

ING Group, the largest financial corporation in the Netherlands, forecasts that the average annual inflation in Azerbaijan will be 5.3% in 2026 and 8.9% in 2027. Elchi.az reports this with reference to ING. In the financial institution’s updated January forecast, inflation expectations for 2026 have been reduced by 0.4 percentage points compared to the previous […]