Credit organizations of Azerbaijan met in June 2013 1,879 thousand payment orders for a total of 9 591 million manat. As the number of payments for 380 000 (16.8%) of their total turnover decreased compared to the previous month to 969 million manat.
Compared with the corresponding period last year, the number of payments in January-June increased 846 thousand or 6.9% to 13,055,000, and their volume increased by 6247 million or 11.3% to 61,628 million manat.
In the structure of payment transactions in January-June, the proportion of large and urgent payments was 1.8% (238,000) of the total number and 88.9% (54,797 million manat) of the total value. The average size of this category of payments has decreased compared to June 2012 by 3.8%, amounting to 210,600 manat, and small and medium size retail payments increased by 21.5% to 635.1 manat.
As of July 1, 2013 payment system users were 54 organizations, 50 of which could make large and urgent payments. - 15B -
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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