The Deposit Insurance Fund has paid compensation to the depositors of 10 failed banks, which amounted to AZN 723 million 976 thousand. The specification is as follows: Para Bank – AZN 43 million 135 thousand (98.3% of the total amount of compensation), Zamin Bank – AZN 53 million 383 thousand (73%), 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%), Gafgaz Inkishaf Bank – AZN 1 million 974 thousand (94.4%), Bank of Azerbaijan – AZN 24 million 161 thousand (97%), Ganja Bank – AZN 976 thousand (94%), Tekhnika Bank – AZN 120 million 397 thousand (98.1%), and Bank Standard – AZN 434 million 823 thousand (99%). -----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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