The depositors of 10 closed banks have been compensated 717 million 823 thousand manat from Deposit Insurance Fund. The specification is as follows: Para Bank – AZN 42 million 907 thousand (98% of the total amount of compensation), Zamin Bank – AZN 52 million 382 thousand (72%), Credo Bank – AZN 27 million 764 thousand (98%), Deka Bank – AZN 3 million 021 thousand (96%) manat, Atra Bank – AZN 14 million 261 thousand (97%), Gafgaz Inkishaf Bank – AZN 1 million 943 thousand (92%), Bank of Azerbaijan – AZN 24 million 148 thousand (97%), Ganja Bank – AZN 975 thousand (94%), Tekhnika Bank – AZN 120 million 050 thousand (98%), and Bank Standard – AZN 430 million 372 thousand (97%). -----71D
Economics
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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