The Ministry of Taxes of Azerbaijan registered a credit union in July.
According to the Ministry, Credit Union Farmer Marketing with an authorized capital of AZN 4,000 is located in Barda at the address. G. Aslanov, 51. The union leader is Seyavush Aliyev.
Under the law, to carry out the activities the said organization will receive a license from the Central Bank of Azerbaijan (CBA).
According to recent reports, the country had 103 credit unions. - 15B -
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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