The Deposit Guarantee Fund has compensated the depositors of 10 closed banks for 722 million 131 thousand manat. The specification is as follows: Para Bank – AZN 42 million 981 thousand (98.2% of the total amount of compensation), Zamin Bank – AZN 52 million 469 thousand (72.2%), Credo Bank – AZN 27 million 770 thousand (99.5%), Deka Bank – AZN 3 million 086 thousand (98.7%), Atra Bank – AZN 14 million 271 thousand (98.1%), Qafqaz Inkishaf Banki - AZN 1 million 974 thousand (94.4%), Bank of Azerbaijan – AZN 24 million 148 thousand (97%), Ganja Bank - AZN 976 thousand (94%), Tekhnika Bank – AZN 120 million 364 thousand (98.1%), and Bank Standard – AZN 434 million 092 thousand (98.4%). ----71D
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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