Priorities of lending businesses in the Agdam region have been defined, the National Fund for Entrepreneurship Support (NFES) stated.
It is advisable to credit projects of creating livestock and dairy farms, farms of intensive horticulture, and enterprises for the production of grain, fruits and milk.
Holders of such projects can not only apply to the authorized credit organizations for obtaining appropriate advice, but can also count on loans of up to 100% of project costs.
NFES was established in 1992. Agents of the Fund when issuing loans are more than 50 banks and non-bank credit organizations.
Last year NESF extended loans of 295 million manats. --7D-
Economics
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Azerbaijan’s gross domestic product (GDP) reached 126.3 billion manats in 2024, marking an increase of 3 billion manats, or 2.4%, compared to the previous year, according to data released by the State Statistics Committee. In 2023, nominal GDP stood at 123 billion manats.
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The latest data from the State Statistics Committee reveals that as of December 1, 2024, the total number of salaried workers in Azerbaijan stood at 1.775 million, with 884,400 employed in the public sector and 890,900 in the private sector. This figure falls significantly short of the government's ambitious targets set seven years ago, raising concerns about employment opportunities, particularly for the country's burgeoning youth population.
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Azerbaijan's legal and physical entities engaged in trade operations with partners from 176 countries between January and November 2024, exporting goods to 120 nations and importing from 167, according to the State Customs Committee.
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Azerbaijan's retail trade turnover climbed 3.9% in real terms in 2024 compared to the previous year, reaching a total of 62.2 billion manats, the State Statistics Committee revealed. Food, beverages, and tobacco accounted for 34.1 billion manats, while non-food products contributed 28.1 billion manats to the total.
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