The Parliament of Azerbaijan is interested in increasing the maximum coverage trims deposits.
Now considered is the question of the maximum size of private bank deposits subject to full coverage, up to 50 thousand manats, reporters and members of the Caspian European Business Club (CEIBC) were told by the chairman of the Parliament committee on economic policy Ziyad Samadzadeh. Currently insured in Azerbaijan are deposits amounting to 30 thousand manat at a rate not exceeding 10% per annum.
According to the MP, up to 2009 the limit for deposit insurance was 6,000 AZN, then in order to attract deposits it was increased by 5 times. - 17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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