Ilaha Mammadli

Azerbaijan

Deputy Editor-in-Chief at Report News Agency

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ADB grants $500,000 to boost digital skills in Azerbaijan's railway sector

2 months ago | report.az | Ilaha Mammadli

The Asian Development Bank (ADB) has approved a $500,000 technical assistance grant to the government of Azerbaijan to support the development of digital skills in the country's railway sector. Report informs citing ADB that the grant will be funded by the e-Asia Fund and Knowledge Partnership of the Republic of Korea and is set to be implemented from January 2025 to December 2026.
WB approves new partnership program with Azerbaijan

2 months ago | report.az | Ilaha Mammadli

The World Bank Group (WBG) Board of Directors has discussed a new Country Partnership Framework (CPF) for Azerbaijan, outlining its strategic engagement with the country over the next five years, Report informs referring to the WB. The CPF aims to support Azerbaijan's transition to a more competitive, greener, and inclusive economy, and in addressing key development challenges facing the country.
ING: Azerbaijan's Central Bank to start tightening monetary policy in Q3 2026

Jan 22, 2025 | report.az | Ilaha Mammadli

Dutch company ING Group predicts that the Central Bank of Azerbaijan (CBA) will begin tightening its monetary policy in the third quarter of 2026, Report informs via ING Group. According to the group's forecasts, the CBA will keep the discount rate at 7.25% until the end of 2025. ING forecasts that the discount rate will be raised to 7.5% in the third quarter of next year, and to 7.75% in the fourth quarter.
EBRD appoints new climate chief

Jan 20, 2025 | report.az | Ilaha Mammadli

The European Bank for Reconstruction and Development (EBRD) is pleased to announce the appointment of Gianpiero Nacci as Managing Director for Climate Strategy and Delivery (CSD), effective 1 January 2025. This appointment follows Harry Boyd-Carpenter’s recent move to the role of Managing Director, Sustainable Infrastructure Group.
Fitch affirms Azerbaijan's long-term rating at investment grade

Jan 18, 2025 | report.az | Ilaha Mammadli

FitchRatings has affirmed Azerbaijan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, Report informs via Fitch. "Azerbaijan's ratings reflect a very strong external balance sheet, the lowest public debt in its peer group, and financing flexibility from large sovereign wealth fund assets.
Fitch: Azerbaijan's net external creditor position strengthens to 153% of GDP

Jan 18, 2025 | report.az | Ilaha Mammadli

Azerbaijan's net external creditor position strengthened to 153% of GDP in 2024, which is the strongest among sovereign issuers in the 'BBB' category, reads a Fitch Ratings' report on the confirmation of Azerbaijan's credit rating, Report informs. The current account surplus halved to 6.5% of GDP in 2024, but it remains the highest among 'BB' category countries.
World Bank keps unchanged economic growth forecasts in Azerbaijan for 2025-2026

Jan 17, 2025 | report.az | Ilaha Mammadli

The World Bank forecasts Azerbaijan's GDP to grow by 2.7% in 2025 and 2.4% in 2026, according to the January edition of the bank's Global Economic Prospects, Report informs. The World Bank's forecasts remained unchanged compared to October estimates. According to the report, Azerbaijan's economy grew by 4% in 2024, which is significantly higher than the 1.1% figure in 2023. Azerbaijan's Ministry of Economy forecasts the country's GDP to grow by 3.5% in 2025 and 2.8% in 2026.
ADB to help Azerbaijan engage private sector in social protection services

Jan 8, 2025 | report.az | Ilaha Mammadli

The Asian Development Bank (ADB) has approved $300,000 in technical assistance for a project to engage the private sector in providing social protection services in Central and West Asia, Report informs via the ADB. The project implementation is planned until the end of 2026 and will cover nine countries in the region, including Azerbaijan.
Azerbaijan's raw tobacco exports soar

Dec 10, 2024 | report.az | Ilaha Mammadli

In January-November 2024, Azerbaijan exported 7,254 tons of raw tobacco worth $22.3 million, Report informs, citing the Ministry of Agriculture. Compared to the same period last year, there was a 3.2-fold increase in raw tobacco exports and a 4.5-fold increase in the value of exported products. Raw tobacco produced in Azerbaijan is mainly exported to Moldova, Russia, UAE, Georgia, Türkiye, Austria, Bulgaria, Italy, Lithuania, Poland, and Greece.
Minister: Azerbaijan’s ties with UEA to further develop as it advances towards green economy

Dec 2, 2024 | report.az | Ilaha Mammadli

There is great potential to expand economic cooperation between Azerbaijan and the United Arab Emirates (UAE), particularly in the areas of sustainable development and energy security, which can make substantial contributions to mutual goals, Azerbaijani Economy Minister Mikayil Jabbarov said at the event dedicated to the National Day of the UAE, Report informs. “Our cooperation in trade relations and investments continues to grow steadily.