The assets of the non-bank credit organization Finoko grew by 855,680 AZN in the first half of 2016 (+9.7%), reaching 9,595,400 AZN, of which 9,001,490 AZN was in foreign currency. The obligations rose by 6.5% during the reported period (460,500 AZN), reaching 7,533,060 AZN (7,483,010 AZN in foreign currency).
The capital for the first six months of 2016 rose to 2,062,340 AZN (+23.7% = 395,180 AZN).
The organization’s profit made up 395,180 AZN in the first six months of the current year. Overall, in 2015 the company's income was AZN 658,670. -71D-
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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