The Ministry of Finance proceeds to the placement of government bonds of interest with a maturity period of two years.
The interest rate on government bonds is 15%. Prior to that, from 2016 the government has allocated only T-bills with maturity not exceeding 364 days. At the same time these securities were sold at a discount price.
The first package of bonds totaling 10 million AZN will be put up for auction at the Baku Stock Exchange on February 28.
BSE told Turan the payment of interest on the bonds will be carried out once in six months.
In total this year, the Ministry of Finance plans to place bonds with a maturity period of 728 days for a total amount of 100 million AZN.
The main investors in T-bills are commercial banks, which are experiencing problems with the placement of available funds.
It should be noted that the Central Bank attracts deposits also roughly at the same interest rate. ----08D
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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