The obligations of the state-run shareholder credit institution Agrarkredit over the past year increased almost 192 times and to the end of the reporting period were 3 billion 172 million 463.6 thousand manats. Moreover, a fifth (662 million 529.9 thousand) accounted for obligations under the IBA assets.
As stated in the report, it also influenced the growth in the total assets constituting 3 billion 185 million 869.8 thousand manats and raised in accordance with the decree of the President on the acquisition of impaired assets by the organization from the International Bank of Azerbaijan (IBA) - 3 billion 133 million 407.8 thousand manats.
Moreover, its loan portfolio by 1 January was at 23 million 373.3 thousand manats (minus 4.8%) with the equity at 13 million 406.2 thousand manats (minus 1%).
The body worked the cycle with a net profit of 288.6 thousand manats.
Today Agrarkredit due to acquired assets is the largest non-banking credit agency in Azerbaijan. It has operated under the Ministry of Finance of Azerbaijan since 2004. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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