Fascinating things you didn’t know about Azerbaijan
The Telegraph tells about some features of the Azerbaijani culture and way of thinking
Azerbaijani economy
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Azerbaijan to expand credit unions network
Azerbaijan must expand credit unions network, chairman of the board of the Credit Unions Association of Azerbaijan Jalil Suleymanov said. "We have already appealed to the government with the request to help expand …
Depositors of bankrupt Azerbaijani banks receive over 38M manats
The Azerbaijan Deposit Insurance Fund (ADIF) paid compensations worth 38.4 million Azerbaijani manats to depositors of DekaBank, Kredobank, Zaminbank and Parabank, ADIF said in a message Aug. 12, Trend reports. Acceptance of …
Azerbaijan to help small and medium-sized businesses
Azerbaijani Deputy Taxes Minister Ilkin Valiyev said that Income tax and value added tax (VAT) rates for small and medium-sized enterprises engaged in production will be reduced in the country. He made the remarks at a …
Azerbaijan’s Central Bank to receive 50 mln manats from banks
The Central Bank of Azerbaijan (CBA) will hold the next deposit auction on Aug. 15 to raise funds. The auction will be held on Bloomberg trading platform. Volume of funds that the CBA is ready to receive from banks will be 50 million …
Fitch notes positive trends in Azerbaijani economy
Fitch international ratings agency increased the forecast of Azerbaijan’s GDP per capita for 2016 from $3,707 up to $3,813, and from $4,297 up to $4,434 for 2017. The forecast for 2018 …
Fitch downgrades inflation forecast for Azerbaijan
The International Ratings Agency Fitch Ratings has downgraded the forecast on inflation in Azerbaijan from 14 to 11.5 percent and from 7 to 6 percent, respectively in 2016 and 2017. Fitch report says that the inflation in the country is …
Financial Stability Council created in Azerbaijan
President Ilham Aliyev has established the Financial Stability Council, abc.az reports. The newly-issued presidential order says that the Council was formed to strengthen macroeconomic stability and financial …
Ilham Aliyev: Azerbaijani economy received a $ 6.3 billion investment in 6 months
President of Azerbaijan Ilham Aliyev has announced today that during the first half of 2016 the country's economy received $ 6.3 billion of investment. This data was voiced by the head of the state during a Cabinet meeting, …
Hafiz Pashayev: low oil prices stimulate economic reforms in Azerbaijan
Low oil prices play a positive role in continuing the work to implement economic reforms in Azerbaijan, the Azerbaijan’s Deputy Foreign Minister, Rector of ADA University Hafiz Pashayev, said at a conference titled …
Samir Sharifov: Azerbaijani sovereign rating to be restored
Azerbaijan will gradually restore its sovereign rating, the country's finance minister, Samir Sharifov, said. "Our rating will be gradually restored with the stabilization of the economic situation, the growth …
IMF welcomes restructuring of Azerbaijani bank sector
The IMF mission welcomes the preparation of the bank restructuring plan and urges its prompt implementation. The plan which should address the high level of nonperforming loans and lead to an increase of the capital of the weak banks, …
Elman Rustamov anounces volume of loans granted to banking sector
The Central Bank of Azerbaijan (CBA) has granted about 1 billion manats to the banking sector, without taking into consideration the swap operations, the head of the Central Bank of Azerbaijan, Elman Rustamov, said. A …
Ilham Aliyev: Deep economic reforms await Azerbaijan in 2016
This year, deep economic reforms will be carried out in Azerbaijan, which will allow to increase the budget revenues, even in conditions of decreasing world oil prices, the President of the Republic Ilham Aliyev stated, speaking …
Azerbaijan increases discount rate to 7%
The Central Bank of Azerbaijan has increased the discount rate by 2% to 7%. The upper limit of the interest rate corridor for liquidity operations was set at 10% (compared to 17%), the bank said. The lower limit remained …
Residents of Azerbaijan earned more than 3 billion manats in January
In January of this year, earnings of residents of Azerbaijan reached about 3.081 billion manats (about 1.974 billion dollars), according to data of the State Statistics Committee. This is 12.2% more than in the same period of last year. …
Ilham Aliyev: Azerbaijan to eliminate dependence on oil prices
Azerbaijani President Ilham Aliyev said that the economic development of the country should no longer be based on the oil sector, the press service of the head of state said. "Oil prices have fallen fourfold. …
Ilham Aliyev: Azerbaijan's goal is sustainable development
Today, Azerbaijan is doing everything necessary for economic development and the transition to a non-oil economic model, the President of Azerbaijan Ilham Aliyev said at the Munich Security Conference, the head of the European …
Ilham Aliyev: “The task for the next few years is to diversify our export potential”
The President of Azerbaijan took part in a round-table discussion on 'Energy security for the geopolitics of the fall in oil prices'.
Christine Lagarde: Azerbaijan is pursuing proper policy
The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, said that Azerbaijan is pursuing the proper policy, which will help it to overcome external challenges. "Azerbaijan has certainly …
