According to a Banking System Outlook published on August 9 by Moody's Investors Service, Azerbaijan's economy will produce solid growth in 2011 and 2012. This will continue to support increased government spending that is boosting the non-oil sector and creating business opportunities for domestic banks, the report said

Azerbaijani Foreign Ministry spokesman Elkhan Polukhov announced on August 8 that the Government of Azerbaijan decided to allocate $100,000 in financial aid to Somalia to help tackle the consequences of drought and famine

On August 5, Euronews broadcast a report on the Third Gabala International Music Festival held in Gabala, Azerbaijan from July 22-August 5