Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA), expanded in July of this year by 7 million or 0.3 percent to 2280 million manat. For the one-year period, it increased by 293.3 million or 15%, since the beginning of the year - by 247.4 million or 12.2%.
According to the CBA, since last June centralized credits were issued at the rate of 5.25% per annum.
At the end of July, the centralized resources of the Central Bank were 50.4% of all funds raised by banks from the financial sector, and 17.9% of total liabilities of the banking system.
It is noteworthy that on August 1, 2008, when the global financial crisis had only just begun to be felt in the country's banking system, the share of loans to the CBA came to only 114.6 million or 1.5% of total liabilities of the banks. - 15V -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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