The Azerbaijani government intends to allocate from the state budget for 2015 to foreign countries a credit equivalent to the amount of 100 million manat.
According to the Ministry of Finance that promulgated the draft state budget for next year, Azerbaijan will continue its active state policy on lending international projects. What kind of particular project is in question has not been reported.
Earlier Azerbaijan gave Serbia a loan of 300 million Euros to finance the construction of a road section in the central part of the country. It was allocated for 15 years with a grace period of 3 years at 4% per annum. For the construction of the Georgian section of the Baku-Tbilisi-Kars Azerbaijan allocated Georgia two loans totaling $ 775 million. The first loan ($ 200 million) was allocated for a period of 25 years at 1% per annum. The second one ($ 575 million) was at 5% per annum.
It should be noted that the Azerbaijani government has borrowed huge foreign and international credit facilities, the maintenance of which in 2015 will provide 703 million manat of expense. --08B--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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