The assets of the International Bank of Azerbaijan in 2016 compared to 2015 decreased by 1 billion 017.998 million manat, or 7.68%, to 12 billion 223.723 million manat.
Within the specified time, the bank's liabilities increased by 289,259,000 manat or 2,29%, reaching 12 billion 903 million 359 thousand manat.
The IBA debt to the Central Bank declined over the year by AZN 50 million and amounts to 600 million manat.
During the reporting period the deposits in the bank were reduced by 197,122,000 manat, or 3.17%, to 6,012,172,000 manat.
IBA on the basis of 2016 has a negative capital of 679,635,000 manat. Loss of the bank in 2016 amounted to 1,356,492,000 manat. ----71D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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