Baku/25.01.13/Turan National Entrepreneurship Support Fund released a report on the allocation of funds for the year 2012. According to the document, 84% of finance provided for the implementation of 63 major projects, that is, each of these projects received at least 10 million manat. These include a number of projects related to the holdings, which have their own banks.
In 2012 and in previous years, huge budget funds were used to finance large projects such holding companies as "Gilan Holding", "Azersun Holding", "ZQAN Holding", etc., which includes commercial banks .
Member of the coalition "National Budget Group" Gubad Bayramov believes this approach to the allocation of funds NFES not fair. "I believe that the provision of large financial resources for the implementation of such holding companies is an example of inefficient use of the state budget," he said.
According to the expert, the government should consider the principles of allocation NFES to eliminate these phenomena, when the holding company with banking institutions that provide loans to private businesses at commercial interest rates as high as 25%, and enjoy preferential government loans at 5%. - 08B-
Economics
-
The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
-
Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
-
Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
-
Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
Leave a review