French tubular solutions manufacturer Vallourec has secured a contract with TotalEnergies to supply more than 16,000 tonnes of pipes for the development of Azerbaijan’s Absheron gas-condensate field in the Caspian Sea.
Day: October 13, 2026
A 6.4-magnitude earthquake has struck Panama, approximately 32 kilometers southwest of the city of Soná.
According to Report, citing the Institute of Geosciences of the University of Panama, the earthquake’s hypocenter was located at a depth of 5 kilometers.
The epicenter was situated in Panama’s Pacific coastal region, near the provinces of Veraguas and Chiriquí.
The latest earthquake occurred just three days after another powerful seismic event recorded on October 9. On that occasion, a 7.2-magnitude earthquake struck 39 kilometers northwest of Tonosí at a depth of 4 kilometers.
Ukrainian President Volodymyr Zelenskyy says Russia launched a strike on a power plant in Kharkiv shortly after U.S. President Donald Trump announced an immediate energy ceasefire between Russia and Ukraine.
Zelenskyy said the attack showed that Russia was not observing the ceasefire announcement and called for continued U.S. pressure on Moscow to support the agreement.
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The International Monetary Fund (IMF) projects that Azerbaijan’s GDP will grow by 1.7% in 2026 and 2.3% in 2027.
According to Report, citing the IMF’s October outlook, the Fund has lowered its GDP growth forecasts for Azerbaijan by 0.5 percentage points for 2026 and 0.2 percentage points for 2027 compared with its May projections.
Based on the updated estimates, Azerbaijan’s economy is expected to grow by an average of 2% annually over the next two years.
The IMF now forecasts average annual inflation in Azerbaijan at 5.8% in 2026 and 5.6% in 2027. By comparison, its spring projections had put inflation at 6% in 2026 and 4.2% in 2027.
The Fund’s experts also assessed labor market trends, projecting that Azerbaijan’s unemployment rate will remain at 5.3% in 2026, unchanged from 2025, before easing to 5.2% in 2027.
Azerbaijan’s Ministry of Economy expects GDP growth of 1.7% this year and 2.7% next year. Meanwhile, the Central Bank of Azerbaijan (CBA) forecasts economic growth of 0.5% in 2026 and 2.6% in 2027.
According to the Ministry of Economy, average annual inflation will stand at 5.7% in 2026 and 5.3% in 2027. The CBA’s July forecast, meanwhile, projected inflation of 6.1% in 2026 and 5.8% in 2027.
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