Deposit Insurance Fund announced the results for 9 months of 2015, according to which the banks - members of the Foundation provide service for 7,304,127 depositors. At the same time, 91% of deposits are protected by the Fund. (up to 30,000 manats.) 71% of deposits - in dollars, 25% - in manat, and 4% - in euros.
The Head of the Economic Research Center Gubad Ibadoglu on his Facebook page says that the Reserve Fund should be adequate to the risks of the banking sector.
So, over the first 9 months of this year, the growth of deposits protected by insurance, exceeded 2 billion manats and insurance reserves of the fund increased by only 17 million manats.
Thus, according to the October 1, the amount of protected deposits reached 5 billion 44 million. At the same time, insurance reserves account for only 109, 4 million manat, that is 2.2% of total assets, which are protected by insurance. However, it is noteworthy that the government and the Central Bank shall not be liable for the obligations of the Fund, said Ibadoglu.-03D
Economics
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Natural gas supplies from Azerbaijan to Bulgaria have been temporarily suspended due to technical reasons from January 6, 2025, Turan reports. Bulgarian «Bulgargaz» Energy Company has announced the suspension, noting that supplies are expected to resume on January 11, 2025.
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In 2024, Azerbaijan welcomed 3.523 million passengers from 38 countries via air transportation, reflecting a significant 32.1% increase compared to the previous year. According to the State Tourism Agency, this also marks an expansion in reach, with visitors arriving from three additional countries, an 8.5% rise year-on-year.
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As Azerbaijan sets an ambitious trajectory for economic growth in 2025, the country is poised to expand its investment portfolio and develop innovative financial instruments. These efforts aim to create a favorable environment for both domestic and international investors, while steering the economy away from oil dependency toward diversified and sustainable growth.
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In 2025, Azerbaijan will celebrate a series of public holidays and mourning events combining cultural traditions, religious rituals and national commemorations. The calendar, approved by the Cabinet of Ministers, defines significant dates that will provide citizens with the opportunity to honor their heritage, reflect on history, and relax with family and friends.
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