The UN predicts an increase in Azerbaijan’s GDP by 1.8% in 2018, according to the “World Economic Situation and Prospects-2018” (WESP) report prepared by the UN Department of Economic and Social Affairs. According to the report, Azerbaijan’s GDP will decrease by 1% in 2017 and will grow by 2.3% in 2019. The restoration of the…
As of late October Azerbaijani banks’ liabilities to the country’s Central Bank (CBA) decreased to 566.6 million manats, or almost 3-fold compared to the volume of liabilities in early 2017, according to the report of the country’s Financial Market Supervisory Authority. Since the beginning of the year, banks have reduced their liabilities by 21.4%, from…
Currency reserves of the Central Bank of Azerbaijan (CBA) increased by about $1,243.2 million (31%), to $5,254.2 million in November as compared to the same period of 2016, according to statistical data posted on the CBA website on December 6. During the month, CBA reserves rose by 53.5 million, while since early 2017 it has…
Azerbaijan’s Unibank OJSC issues bonds worth $10 million, said the Baku Stock Exchange (BSE) in a message. The message says that this step is the second stage of consulting program for the listing of the BSE, which Unibank joined on October 26. The bank plans to place 1,000 bonds with a par value of $10,000…
Iran’s exports of food and agricultural products to Azerbaijan witnessed a fall of 18% in terms of value during the first half of the current fiscal year (March 20 – September 22). The Islamic Republic exported $17 million worth of agricultural and food products to the neighboring country, which makes 1% of Iran’s overall exports…
Azerbaijan offers Croatia to launch direct flights for development of tourism, Azerbaijani Economy Minister Shahin Mustafayev said. Mustafayev made the remarks at a meeting with Croatian Deputy Prime Minister, Minister of Economy, Entrepreneurship and Crafts Martina Dalic in Baku, the Azerbaijani Economy Ministry reported on November 29. Speaking about cooperation between the two countries, Mustafayev…
Turkey’s Ziraat Bank plans to open three more branches in Azerbaijan, bank’s Director General Huseyin Aydin declared on November 23. He reminded that at present, two offices of the bank – the head office and one branch – operated in Baku. “We plan to open the remaining three branches in the Azerbaijani districts, where industry…