The year 2024 stands as a defining moment in the modern history of Azerbaijan, marked by a series of significant political, economic, and social milestones. It was a year that witnessed robust economic growth, the advancement of key investment projects, and the successful implementation of social reforms. Notably, Azerbaijan continued its commitment to building a sustainable economy, with a focus on diversifying its economic base and enhancing resilience against external shocks. This shift toward sustainability was demonstrated through substantial investments in the non-oil sector, industrial modernization, and green energy initiatives. Furthermore, Azerbaijan’s role on the global stage was highlighted by the hosting of COP29 in Baku and its election to the D-8 Economic Cooperation Organization, events which underscored the nation’s expanding international influence and its growing prominence in global economic and environmental dialogues.

Economically, 2024 was characterized by sustained growth and diversification. The country’s GDP saw notable expansion, particularly in the non-oil sector, signaling a deliberate shift toward a more diversified economy. This strategic pivot was further evidenced by an increase in foreign exchange reserves and a reduction in foreign public debt,........

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