In the first six months of 2016 the number of Mugan Bank employees fell from 908 to 824.
The bank during the reporting period did not close any of its branches.
The bank's authorized capital amounts to AZN 65 million. In December, the general shareholders' meeting decided to increase the bank's authorized capital by 10 million manat. After completion of the issue the bank's authorized capital will amount to AZN 75 million.
The bank's shareholders are four individuals - Elmir Magbet Oglu Mehdiyev (63.5%), who is also the head of the bank's supervisory board, Magbet Rahim Oglu Mehdiyev (13.1%), Vefa Ahmed Gyzy Valiyeva (12.05%), and Farida Jahandar Gyzy Mehdiyeva (11.34%). 71D
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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