Car Imports Increased 2.5 Times

Zakir Ibrahimov, Chairman of the Management Board of AzerGold CJSC, met with a Kenyan delegation yesterday to discuss the possibilities of bilateral cooperation, in particular in the mining sector. At the meeting, which was part of the ongoing efforts to strengthen ties between Azerbaijan and Kenya, potential economic cooperation was highlighted, which is facilitated by the participation of both countries in international organizations.

At a meeting chaired by Prime Minister Ali Asadov on April 23, the Supervisory Board of the Azerbaijan Investment Holding (AIH) reviewed the activities of portfolio companies and outlined a course for the future. Presentations on financial results, corporate governance assessment and strategic vision were presented, reflecting the multifaceted responsibilities assigned to the holding.

As Azerbaijan grapples with the prospect of joining the Eurasian Economic Union (EAEU), President Ilham Aliyev's recent remarks at the international forum "COP29 and green vision for Azerbaijan" shed light on the complexities underlying the decision-making process. While affirming that Azerbaijan currently has no plans to join the EAEU, Aliyev's acknowledgment that future considerations hinge on potential economic benefits underscores the nuanced calculus at play.

In the first quarter of 2024, Azerbaijan's budget demonstrated sustainability, reaching a surplus of 821.7 million manats, despite global uncertainty. Revenues exceeded forecasts, expenses increased; however, the growth of non-oil and gas revenues and investments in the restoration of liberated territories are especially encouraging.