Azerbaijan mainly produces oil on its major Azeri-Chirag-Guneshli (ACG) oilfields, the largest oil field block in Azerbaijan developed by a BP-led international consortium.

Growth is expected to decelerate to 1.7 percent in 2022, a downward revision of 2.5 percentage points relative to the forecast made in November 2021.

In the past year, the two leaders have held two meetings – one hosted by Kremlin leader Vladimir Putin the other by the European Union – and have made progress towards clinching an agreement a little more than a year after the “Second Karabakh War” in which Azerbaijan restored control over swathes of territory held by Armenians for three decades.

Fitch Ratings has affirmed the outlook on Georgia’s long-term foreign-currency Issuer Default Rating (IDR) at ‘BB’ with a Stable outlook.

Investment in the construction of a solar plant with a capacity of 230 megawatts is estimated at $225-$240 million.