Gross domestic product (GDP) grew by 11.3 percent year-on-year in January-September this year after contracting 5.0 percent in the same period last year.

Lenders reported a rise in total net profit of 19.3 percent year-on-year of 570.1 million manats ($335.4 million) in the period from January to October 2021.

The move will significantly increase output of a project conceived to reduce Europe's dependence on Russian gas.

The renewed violence coincided with efforts to resolve two issues hindering a durable peace between the neighbours – demarcation of the border and an agreement on allowing free transit for Azerbaijan to its exclave of Nakhchivan.