The number of licensed bank branches in the Absheron economic region in the first half of this year increased by 17 units t* 382. At the same time, it retained the status of the region most filled with banking offices. It accounts for 56.5% of the total number of branches.
According t* the Central Bank of Azerbaijan (CBA) in the reporting period increased branches only five of the 10 economic regions of the country in three areas, this figure has not changed, and in tw* - have decreased.
In descending order of density of bank branches Absheron is followed by the Aran economic region - 95 (+3 t* the beginning of the year), Ganja-Gazakh economic region - 65 (-1), Lankaran economic region - 37 (+1), Guba-Khachmaz economic region - 36 (1), Sheki-Zagatala economic region - 29 (0), Shirvan economic region - 17 (+2), Nakhchivan economic region - 11 (0) Upper Karabakh economic region - 4 (0). There are n* bank branches in Kalbadjar-Lachin economic region.
As of July 1, 2013 the total number of bank branches totaled 676 units, an increase for the half year t* 21. - 15V-
Economics
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BP has signed a shareholders agreement with SOCAR Green (a subsidiary of SOCAR) and the Azerbaijan Investment Company (AIC) to form a joint venture for the construction of a 240 MW solar power plant in Azerbaijan’s Jabrayil District, the company announced on Monday.
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The State Oil Company of Azerbaijan (SOCAR) and Russian energy giant Gazprom are discussing further steps to strengthen their strategic partnership in the energy sector, SOCAR announced on social media on Monday.
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Azerbaijan, known worldwide for its oil wealth, has seen its oil and gas sector contribute at least 90% of its exports, significantly shaping the country’s GDP, foreign investment, and fiscal stability. These resources have helped stabilize the national currency and ensured political and social stability. However, since oil production has been steadily declining since 2011, the country faces mounting economic challenges as it transitions into a post-oil era, notes economist Gubad Ibadoglu.
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In Azerbaijan, it is planned to calculate wages on an hourly basis instead of monthly. At the same time, according to officials' statements, salary increases are expected next year. So far, there is no official information on how much wages will increase. However, experts say that the transition to hourly wages in Azerbaijan appears very difficult and could lead to cases of abuse.
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