Total assets of banks in Azerbaijan rose in July to 507.22 million or 2.9% to 18,693.48 million manat. From the beginning, the bank assets increased by 13.1 %, while for the year - by 26.2 %.
According to the Central Bank of Azerbaijan, on August 1, 2013 the amount of cash in banks amounted to 737.1 million manat, funds in correspondent accounts amounted to 1115,7 million manat , lending financial sector - 681.6 million manat, customer lending - 12949 4 million manat , the volume of investments - 1609.7 million manats , other assets - up to 1600.1 million manat.
Liabilities of banks increased in the reporting month to 367.1 million or 2.4% to 15,696.43 million manat. Of these 8488 million manat secured deposits, 6089.9 million manat - with financial sector and 1118.6 million manat - other liabilities.
The total capital of banks increased over the year by 728.4 million or 32.1 %, in July - by 140.1 million manat, or 4.9 percent to 2,997 million manat. - 15B -
Economics
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The Cabinet of Ministers of Azerbaijan approved new rules for the transportation of goods by rail on September 3, aimed at enhancing the efficiency of freight transport across the country’s railway network. The decision is part of a 2015 presidential decree designed to improve the operations of the state-owned Closed Joint-Stock Company “Azerbaijan Railways.”
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On September 3, the Cabinet of Ministers of Azerbaijan approved a new list of fixed assets that are the subject of leasing contracts and exempt from value-added tax (VAT) on imports, in accordance with recent amendments to the country's Tax Code.
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The Cabinet of Ministers of Azerbaijan has announced a series of amendments to the customs duty regulations, aimed at revising tariffs related to scrap metal and waste. The changes are part of the implementation of a recent presidential decree and are set to come into effect in 60 days.
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The Agricultural Subsidy Council has announced the introduction of a new type of subsidy. According to the institution's decision, starting next year, an additional 60 manat per hectare subsidy will be provided for fields using modern irrigation systems. It is stated that subsidies for repeated crops will only apply to irrigated areas starting from 2025.
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