More than fourfold increase in the refinancing rate of the Central Bank of Azerbaijan for the period from May 2014 to September 14 this year (from 3.5 to 15%) affected the requests of local financial and credit institutions.
As stated in the CBA report, by October 1, total volumes for this position were at the level of 6 billion 475.1 million manat (minus 25 million to September 1 and minus 79.6 million to August 1).
As can be seen from the bank reporting indicators, they have not ceased to look for credit lines and simply abandoned the CBA services, seeking for foreign financial institutions applying a more gentle rate. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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