At the auction held on 5 February for sale of government bonds manat all dollar- denominated debt securities have been fully placed. According to the Baku Stock Exchange, the only investor, whose name was not disclosed, bought up the dollar medium-term state bonds amounting $5 million at an interest rate of 3.5%, medium-term for $7 million -at 2.77% per annum.
Manat bonds worth 20 million AZN were also sold. The Ministry of Finance will have to pay interest on them at the level of 8.79% (T-bills) and 7.79% (medium term bonds ) per annum.
The Ministry of Finance in order to cover the 2016 state budget deficit has issued bonds amounting 400 million manat and $500 million. Placement will be carried out in stages. -08D-
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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