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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Azerbaijani President Ilham Aliyev inspected a fleet of specialized municipal service vehicles in Baku on Thursday, as part of efforts to modernize urban infrastructure and improve environmental sustainability.
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Azerbaijan's National Depository Center (NDC) has announced a series of strategic goals and digital innovations for 2024-2026, aimed at fostering trust, expanding market access, and diversifying investment instruments in the country’s capital markets.
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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