The Council to ensure the financial stability led by the Prime Minister of Azerbaijan Artur Rasizadeh intends to make a decision on institutional governance of derived troubled assets of financial and credit institutions.
Commenting on the situation, the head of the Financial Markets Supervisory House Board of Directors Rufat Aslanli said this initiative is based on the proposals to change the legislation in order to regulate these issues.
The point is to make effective measures for the rehabilitation and restructuring of the banking system, resulting in problem assets separated from the healthy assets.
"The regulator is against the forced union of banks and insurance companies. Before the first wave of devaluation of the manat the share of loans in foreign currency amounted to 47%. After the December drawdown their nominal amount in manat has doubled, which creates problems with the implementation of the bank's liabilities in dollars and euros. After deciding these issues will soften,” he said. --17D-
Economics
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Farmers in Azerbaijan must insure their barley, wheat, rice, and corn crops grown on lands exceeding 10 hectares to be eligible for agricultural subsidies, a government official stated during a recent briefing on updated subsidy rates.
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Pakistan’s gas reserves, estimated at approximately 400 billion cubic meters, and annual production of about 30 billion cubic meters, are insufficient to address the "blue fuel" deficit in this densely populated country. Consequently, the government has identified meeting the country’s gas needs as a strategic priority.
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The hospitality industry in Azerbaijan recorded significant growth in 2024, with the number of overnight stays in hotels and similar establishments rising by 25.1% year-on-year to 4.28 million, according to official data. This robust recovery highlights the increasing appeal of the sector to both domestic and international travelers, supported by improved infrastructure and the diversification of tourism offerings.
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Azerbaijan's Agricultural Subsidy Council has set new requirements for the establishment of intensive orchards, including the installation of climate stations, according to Vugar Huseynov, head of the Ministry of Agriculture's press service.
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