Azerbaijan and Kazakhstan are set to gain from the increase in oil prices since the start of 2024, reads a report by the United Nations (UN) on the global economy, Paralel.Az-Economics reports.

It was noted that the inflation rates have significantly declined in both countries this year.

The report notes that other economies of the Caucasus and Central Asia are benefiting from the relocation of Russian businesses and growing re-export opportunities to the Russian market.

However, the planned tightening of the rules for employing migrant workers in the Russian Federation will likely reduce remittance flows and create pressures in domestic labor markets.