A report of the World Bank "Access to finance for micro, small and medium enterprises (MSME) in Azerbaijan. Assessment of demand" (http://www.worldbank.org/content/dam/Worldbank/document/eca/azerbaijan/az-a2f-survey-presentation-eng.pdf) has been released. The author of the document is the sectoral coordinator of the World Bank Angela Prigozhina.
According to the document, more than half (51%) of the local segment of the private enterprise as the main problem they see the difficult access to finance. The tax rate of 13.8% dissatisfied entrepreneurs transportation services - 5.8%, the dominance of corruption - 2.4% (10 times more than the results of the year before).
Meanwhile, 65% of companies from this sector have a savings or current accounts and loans received only 13.5% of the companies. Most of the representatives (91.9%) of micro-businesses do not have access to commercial credit, while 7.9% - 1 credit.
In 81.9% of small businesses do not have loans at 14.8% - 1 credit, and only 3.3% - 2 or more credits.
In 72.7% of middle business is also no loans, 20% - 1 credit at 7.3% - not less than 2 credits. --17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review