Baku hosted the first annual meeting of trainers on financial literacy, organized with the support of the European Union.
According to Turan, the meeting was held within the project "Preparation of women professionals and the development of women entrepreneurship in the regions of Azerbaijan."
The project was implemented by the Association of Micro-finance of Azerbaijan (AMFA) and the Microfinance Centre in Poland.
Speaking at the opening of the meeting, the AMFA executive director Jale Hajiyeva said the project launched in 2014 was designed for 3 years.
“The project prepared 22 trainers on financial literacy and through them training sessions were conducted in 8 regions of the country for more than 2 thousand people,” she said.
The main topics of the training were the development of the family budget management skills, behavior changes in money management, training in specialty to work as a crediting employee in financial institutions, and the ability to start a business and to improve it.
The Deputy Director of the Center for Microfinance of Poland Katarzyna Pawlak noted the importance of financial literacy and said this also applies to pensioners.
“You should know how to manage pension funds. It is also a kind of a risk,” she said.
The head of the EU Delegation to Azerbaijan Malena Mard emphasized that financial literacy occupies an important place in the EU agenda.
“Financial literacy is very important for the development of medium and small businesses. In the EU, 60% of jobs are provided by small and medium business,” she said. ---71D
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review