The Chairman of the Board of Directors of the Financial Markets Control House Rufat Aslanli gave an interview with ANS TV. According to him, FMCH has worked out an individual program designed for local banks to strengthen their financial stability against the background of the lack of fundamental problems that could disturb the public in their activity.
We remind readers that there are problems connected with last year's double devaluation of the manat against the US dollar (banks borrow money from the Central Bank and international financial institutions in this currency, returning the funds with interest once again in US dollars).
According to Aslanli, the share of banking assets in GDP due to the devaluation is 67% (in manats), four-fifths of which were formed in the past year due to these processes, since the majority of the assets are denominated in foreign currency. It turns out that in dollars, their share is one third of GDP. --17D-
Economics
-
S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
-
In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
-
A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
-
Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
Leave a review