The National Fund for Entrepreneurship Support (NFES) under the Ministry of Economic Development signed an agreement with PricewaterhouseCoopers Audit Azerbaijan LLC for the audit of its activities in 2014. The company becomes the third consecutive NFES auditor.
The cost of the contract is 23 million manat, which is 20 % less than in the previous year. An audit of the fund for the fiscal year 2012 cost about 38,940 manat.
According to the financial report, at the beginning of 2013 lending rose from 446.3 million to 542.8 million manat. Of these, 527 million manat was allocated in the form of loans.
In 2011, operating and other expenses of NFES were 536,000 manats. In 2012, these expenditures reached 583 thousand manats (+8.7 %).
International audit of the financial activity of NFES has been done over the past five years. - 08B-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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