Azerbaijan has purchased new artillery guns from the Czech Republic. The DANA self-propelled artillery guns of the Czech production have been delivered to Azerbaijan and are being used in large-scale exercises involving various branches of Azerbaijani Armed Forces, the Defense Ministry reported on September 18. First introduced in 1977, DANA systems have a firing range…
Azerbaijan’s Ministry of Finance has submitted the state budget drafts for 2018 to the Cabinet of Ministers, the ministry said on September 18. Draft state budget and draft consolidated budget for 2018, as well as consolidated budget indicators for the next three years, were submitted to the Cabinet of Ministers. Azerbaijani state budget revenues for…
Prices for consumer goods and tariffs for services in Azerbaijan increased by 0.2% MoM in August, the country’s State Statistics Committee reported. Prices for foodstuff increased by 0.3%, while the prices for non-food goods – by 0.1%. The cost of paid services increased by 0.2%. In January-August prices for consumer goods and tariffs for services…
Azerbaijan should continue the restructuring of the banking sector, Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), declared. The country’s economic recovery depends on this, according to him. “We discussed the issue of restructuring of the International Bank of Azerbaijan (IBA) and the banking sector as…
Azerbaijan imported 5,662 vehicles in January-August as compared with 3,454 vehicles in the same period of 2016, according to a report issued by the State Customs Committee. Cars and motor vehicles accounted for 4,874 of the total number of the vehicles imported by the country, said the report. Azerbaijan imported 2,981 cars and motor vehicles…
Tax revenues of Azerbaijani state budget exceeded 4.67 billion manats in January-August, up by 0.1% from the forecast, said the country’s Taxes Ministry on September 12. The Taxes Ministry is expected to transfer 7.645 billion manats (45.6% of total budget revenues) to the state budget in 2017. Revenues of Azerbaijan’s state budget have been approved…
The international ratings agency Fitch Agency has downgraded Azerbaijani AccessBank’s Long-Term Issuer Default Rating (IDR) to “BB-” from “BB+”, says the agency’s report. At the same time, the agency has affirmed the bank’s Viability Rating (VR) at “f”. According to Fitch experts, the bank’s shareholders provided $20 million of equity in March and were committed…