Azerbaijan hired McKinsey & Company, a worldwide management consulting firm, to develop a road map for the country’s economy to 2025 and beyond. “We were expecting to enter the post-oil era in about 10-15 years, but we have practically found ourselves in that situation already today”, Natiq Amirov, Azerbaijani presidential aide on economic reforms, said.…
The European Bank for Reconstruction and Development (EBRD) is extending a 10 million euro loan to PP Polesie JLLC (PP Polesie), a leading producer of children’s plastic toys in Belarus. PP Polesie is one of the major exporters of toys to Russia and is also actively expanding in the EU member-states including Germany, Italy and…
The equity capital of Belarusian companies (except for banks, insurance and state-funded companies, micro- and small-sized companies without departmental affiliation) grew by 0.8% in January-July to Br112.8 billion ($57.6 billion), Belarus’ National Statistical Committee (Belstat) said in a statistical report. Companies’ liabilities stood at Br120.7 billion ($61.7 billion) as of July 1, up by 10.9%…
Net foreign assets of the Belarusian government and the National Bank of Belarus (NBB) amounted to $3.624 billion as of August 1, up by 49.9% since early 2016, the NBB said in a statistical report. Belarus’ net foreign assets grew due to an increase in gross foreign assets by 21.4% in January-July to $5.052 billion…
Another fifty-one state enterprises have been put up for privatization in Azerbaijan, the country’s State Property Issues Committee said. Twenty-five of the enterprises put up for the auction are located in various districts of Azerbaijan, and 30-45% of shares of the controlling stake in the authorized capital of these enterprises are subject to privatization. These…
The volume of mortgage loans which were provided in Russia in July fell by 17% YoY to 54.8 billion rubles, the United Credit Bureau said in a statement. The number of mortgage loans also fell by 17% to 34,700 and the average loan size was flat at 1.58 million rubles. (Prime/Business World Magazine)
Russia’s budget deficit may exceed 3% of the gross domestic product (GDP) in 2016, Prime Minister Dmitry Medvedev said after a government meeting. “The expected deficit this year will amount to more than 3%. It is higher than planned, naturally, we will do everything we can to keep the deficit in the framework of the…