The National Fund for Entrepreneurship Support (NFES) has provided entrepreneurs working in the village Rasulzade Binagadi soft loans.
As reported in the fund, as part of the state support of entrepreneurship in Baku settlements, agents of the fund provided 32 business entities with loans totaling 657 thousand manats, which in turn will create over 50 new jobs.
During the 2011-2012 period, and this past year for lending to entrepreneurs in Baku settlements on 594 projects were directed funds to 139.4 million manat.
NFES was established in 1992 and active lending by the Fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manats. - 15D -
Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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