AZN 1 billion – for purchase of household appliances and mobile phones

AZN 1 billion – for purchase of household appliances and mobile phones “Loans to purchase household appliances and mobile phones constituted 15% of the consumer loans issued by commercial banks”. According to the newspaper “Echo” that the statement came from the chairman of the Center for Economic and Social Development (CESD) Vugar Bayramov. According to him, the share of loans granted for the purchase of household appliances and mobile phones has... Read More

BP’s Azeri Oil Output Declined

BP’s Azeri Oil Output Declined Output from Azerbaijan’s Azeri-Chirag-Guneshli (ACG) oilfields declined to an average 656,000 barrels per day (bpd) in the first half of 2014 from 672,000 bpd in the same period last year, BP-Azerbaijan said in a statement. BP said earlier this year that oil production at the ACG fields might be slightly lower than in 2013 as the company planned maintenance work at the Central Azeri and West Azeri platforms, halting operations for a couple... Read More

CESD: Import from Russia to Azerbaijan increased by 15%

CESD: Import from Russia to Azerbaijan increased by 15% The fall of the national currency of one of Azerbaijan’s main trade partners may stimulate imports to our country and restrict exports. Cesd.az reports referring to the newspaper “Echo” that it is the opinion of the chairman of the Center for Economic and Social Development Vugar Bayramov. The expert noted that the sanctions and embargoes, which are applied with regard to Russia will inluence Azerbaijan’s... Read More

What is the poverty level in Azerbaijan?

What is the poverty level in Azerbaijan? “In an ideal world the figure of poverty rate would stand at zero. Official statistics show that today 5.6 percent of 9.5-million Azerbaijanis or some 500,000 people live in poverty,” Vugar Bayramov, the Chairman of the Center for Economic and Social Development (CESD) told local press. However, the figure in Azerbaijan has substantially decreased over the last decade. This is down from four million people who live in poverty in... Read More