Economy

Azerbaijan Says E-Procurement Saved 453.7 Million Manats

Electronic public procurement saved Azerbaijan 453.7 million manats in the first eight months of 2026, officials said.

Azerbaijan Extends Startup Tax Breaks to Seven Years

President Ilham Aliyev approved legislation extending Azerbaijan’s startup tax holiday and adding incentives for investors and venture funds from 2027.

Azerbaijan Gives Technology Park Residents Ownership of Equipment

A decree signed by President Ilham Aliyev changes ownership, leasing and operator rules for Azerbaijan’s technology parks.

Azerbaijan Approves Low-Carbon Strategy, Targets Net Zero by 2060

Azerbaijan approved a long-term low-carbon strategy with a conditional net-zero emissions target for 2060 and a plan to shift buildings toward electric heat pumps by 2035.

Azerbaijan Targets Two-Hour Treasury Payments in 2027

Azerbaijan’s Finance Ministry plans to cut Treasury payment processing to two hours in 2027, down from a current average of no more than 10 hours.

Azerbaijan Sends Islamic Finance Legislative Package to Government

Azerbaijan’s Central Bank has submitted a legislative package intended to establish a legal framework for five Islamic finance products.

Butter Price Jumps to 23.90 Manats as Shoppers Switch to Smaller Packs

Butter and cooking-oil prices are rising in Azerbaijan, with shoppers reporting increases of 0.50 to 6 manats and some switching to smaller packages to reduce immediate costs.

Former SOCAR AQS Chief’s Assets Worth Nearly 100 Million Manats Confiscated

Azerbaijani authorities confiscated nearly 100 million manats in assets from former SOCAR AQS chief Ramin Isayev, including 19 homes, gold bars and more than $6 million in cash.

Azerbaijan’s Deposit Rates Fall as Loan Costs Rise

The gap between manat loan and deposit rates widened to 7.41 percentage points for individuals by early September 2026, its highest level since November 2021.

SOCAR TĂĽrkiye Refinances $1.6 Billion With Five-Year Loan

SOCAR TĂĽrkiye has secured $1.6 billion in five-year financing from a group of international banks to refinance existing loans on improved terms. First Abu Dhabi...

AzerGold Establishes First Foreign Subsidiary in Uzbekistan

Azerbaijan's state-owned mining company AzerGold has registered its first foreign subsidiary, AzerGold Uzbekistan LLC, to assess the Akba gold deposit in Uzbekistan's Qashqadaryo region. After...

PAĹžA Bank Finances $58.6 Million Azerbaijan Energy Storage Project

PAĹžA Bank has provided financing for a $58.6 million battery energy storage project being built in Azerbaijan by TĂĽrkiye's YEO Teknoloji for state power...

Azerbaijan-Kyrgyz Development Fund Capital Doubles to $200 Million

President Ilham Aliyev has approved measures doubling the capital of the Azerbaijan-Kyrgyz Development Fund to $200 million and ratifying a separate agreement on international...

Aliyev, Siljanovska-Davkova Discuss Expanding Energy Cooperation

The presidents of Azerbaijan and North Macedonia discussed global energy challenges and agreed to expand bilateral cooperation.

EU Company Investment in Karabakh and Nakhchivan Rises to 19%

AZE.US Nineteen percent of European companies surveyed for the EU Business Climate Report Azerbaijan 2025/2026 said they had already invested in the Karabakh and East...

Brent Tops $110: What Higher Oil Prices Mean for Azerbaijan

Brent crude rose above $110 a barrel as Middle East supply risks and falling U.S. inventories lifted prices, potentially supporting Azerbaijan’s export revenue.

Azərçay Criticized Over Refusal to Support Baku Teapot Museum

Museum founder Elchin Aliyev criticized Azərçay and Veysəloğlu Group after they declined a request to support the opening of Baku’s Teapot Treasury Museum.

Fish Prices Reach 15 Manats per Kilogram as Buyers Compare Online and Direct Sales

Buying fish directly from fishermen can save shoppers 2 to 3 manats per kilogram, though some regional sellers keep online prices unchanged and offer free local delivery.

Baku and Absheron Account for 75% of Azerbaijan’s Resale Home Deals

Baku and the Absheron Peninsula accounted for three-quarters of Azerbaijan’s resale housing transactions in 2025, while regional markets lagged amid weaker job prospects, services and new-home supply.

Azerbaijan Court Extends Adnan Ahmadzada’s Detention by Six Months

A Baku court extended businessman Adnan Ahmadzada's pretrial detention to a maximum of 19 months after investigators requested more time to gather evidence.

Ordered for 5 Manats, Charged 8: Why Baku Taxi Fares Change

Baku passengers say taxi fares shown at booking can rise before arrival. Drivers and the platform cite traffic, travel time and route changes.

Why Nine First-Class Seats Stay Empty on Crowded Absheron Trains

Azerbaijan Railways says a nine-seat premium cabin is kept closed on weekday commuter runs to preserve it for Baku-Gabala service.

Azerbaijan Pauses Rent-to-Own Applications; Expert Warns Rents Could Rise 10-15%

Azerbaijan has temporarily stopped accepting new applications for homes under its rent-to-own program, while a property appraiser has warned that a prolonged pause could...

Four Piles Installed for Shah Deniz’s 4.93 Billion-Manat Compression Project

BAKU, Oct. 20 - Offshore construction has begun on the Shah Deniz compression project, worth about 4.93 billion manats ($2.9 billion), with four piles...

Azerbaijan’s Transit Freight Rises 14.5% to More Than 12 Million Tons

Transit freight through Azerbaijan exceeded 12 million metric tons in January-September 2026, up 14.5% from a year earlier and the highest level in five...

Renewables Supply 20% of Azerbaijan’s Electricity, Saving 840 Million Cubic Meters of Gas

Renewable sources supplied 20% of the electricity generated in Azerbaijan in January-September 2026, saving an estimated 840 million cubic meters of natural gas, Energy...

Azerbaijan Plans AI Checks of Cash Receipts for Tax Risks

Azerbaijan’s tax authorities plan to use artificial intelligence to analyze cash register receipts for unusual turnover, goods that do not match a business’s activities...

Azerbaijan Proposes Work-Permit Exemptions for Foreign Agropark Specialists

Azerbaijan is considering exempting foreign agronomists, horticulture specialists and veterinarians hired by agropark residents from work-permit requirements, while also providing a basis for temporary...

Village Egg Prices Reach 50 Gapiks in Azerbaijan

Village eggs are selling for 40-50 gapiks apiece in Azerbaijani markets, even though producers in some villages receive only 25-28 gapiks. Transport costs, middlemen's...

SOFAZ Transfers 9.628 Billion Manats to Azerbaijan’s Budget in Nine Months

Azerbaijan's State Oil Fund transferred 9.628 billion manats (about $5.664 billion) to the state budget in January-September 2026, accounting for nearly all of its...

Azerbaijan Proposes Broader Scope for E-Commerce Law

Azerbaijan is considering removing a provision that limits its law on electronic commerce to transactions within the country, as lawmakers review amendments covering technology...

Why 28-Day Mobile Packages Make Azerbaijan’s Subscribers Pay More Often

Twelve 28-day packages cover only 336 days. Subscribers question more frequent renewals and the loss of unused data and minutes.

Jafarli Demands Accounting of Eight Years of TABIB Spending

BAKU, Oct. 19 - Economist Natig Jafarli has called for an accounting of the money spent on Azerbaijan’s public health management agency, TABIB, since...

Russia Supplies 84.6% of Azerbaijan’s Wheat Imports

Russia supplied 711,883 tons of wheat to Azerbaijan in January-August 2026, accounting for about 84.6% of the country’s wheat imports.

Azerbaijan’s September Trade Surplus Shrinks 7.4-Fold

Azerbaijan’s monthly trade surplus fell from about 1.60 billion manats in August to 216.9 million manats in September as exports declined and imports increased.

World Bank Plans 850 Million Manats for Baku Environmental Cleanup

The World Bank plans to raise financing for the proposed Livable Baku project to 850 million manats, covering polluted sites and waste infrastructure.

Azerbaijan’s Passenger-Car Imports Fall 34.9% in Nine Months

Azerbaijan imported 50,898 passenger cars in January-September 2026, down 34.9%, while plug-in hybrid deliveries fell 63.5%.

Azerbaijan’s Exports to Armenia Reach 39.9 Million Manats

Azerbaijan exported goods worth 39.9 million manats, or $23.45 million, to Armenia in the first nine months of 2026, customs data showed.

Could Unemployment Insurance Cover Loan Payments in Azerbaijan?

A proposed unemployment-insurance mechanism for borrowers could limit loan delinquencies, but experts warn that mandatory premiums would raise borrowing costs.

Why Is the Medicine You Need Available at Only One Pharmacy?

BAKU - A doctor prescribes a medicine, but the patient can buy it only at one specific address. Another drug disappears from shelves and...

Latest news