JSC Bank Respublika actively supported the initiative of the World Day of Savings in Azerbaijan.
As reported in the bank, from 31 October to 8 November, as part of the International Day of Savings, Bank Respublika branches in Baku and regions took an active part in this. Given that the main target groups were school-age children, the action directly involved the management and staff of the bank branches in high schools and high schools held a number of educational meetings on topics about the nature of the banking system and the International Day of Savings.
At the same time, special booklets from the bank were distributed to students and children with parents who attended the bank's branches in the days of the action. In addition, children, filling in forms, offered interesting options for the name of the squirrel, which is the symbol of Savings Day in Azerbaijan, said the report.
We remind you that the World Savings Day was celebrated for the first time in Azerbaijan. Bank Respublika intends to support the implementation of this action in the following years. -15D -
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review