If government’s goal would have been to re-industrialize the economy outside of the oil sector, then reduction of the bank interest rate is a necessary condition for this. By early December 2012 all key indexes of the banking system have grown. During a year aggregate capital of the banks increased by 397.3 million AZN or by 19.4%. The population’s deposits grew by 15.6%. A high liquidity in the banking system has pushed a rapid growth of credit...
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In a significant diplomatic move, President Kassym-Jomart Tokayev of Kazakhstan embarked on an official visit to Armenia, marking a pivotal moment in the relationship between the two nations. The meeting between President Tokayev and Armenian Prime Minister Nikol Pashinyan resulted in the signing of a joint statement aimed at fostering cooperation and easing tensions that had simmered between the two countries.
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