The investment activities of the Azerbaijan Deposit Insurance Fund (ADIF) are highly effective.
As of October 1, placing its assets for 74.3 mln AZN (69,530,000 AZN by the end of the second quarter) in government securities provided an average annual return of 4.3% (4.34%). Five million EUR of its assets were transferred to the management of Deutsche Asset & Wealth Management International. The discount rate of the Central Bank of Azerbaijan was reduced to 3.5% on July 30.
By October 1, the Fund's assets reached 88.5 million manat (July 1 - 83.4 million). AZN 1 799 000 000 (1.931 billion as of July 1) of the deposits were subject to compensation.
In this case, insured deposits accounted for only 51.8% of the total volume of retail deposits (6.6 billion manat). A total of 5,745,000 deposit accounts or 90.5% of all deposits of individuals (6 347 000) were insured by October 1. --17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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