Concessional Lending of Business Declined
In 2015, the National Entrepreneurship Support Fund provided 248 500 000 AZN to entrepreneurs. This is 16% less than in the previous year.
According to the NFES, last year credits were given to 5,243 subjects. The number of those granted loans during the year (5,243 individuals and legal entities) decreased by 6% (317).
In 2016, the state budget will allocate NFES AZN 66 million to finance business. It is 91 million manats lower than last year. ---08D
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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