The next auction on placement of T-bills will take place on 4 October. The Finance Ministry plans to attract 22 million manats for a period of 91 days.
According to the Baku Stock Exchange, on the previous auction of August 30 investors bought three-month T-bills with par value of 100 manats at a discounted rate - an average of 97.75 manats, or 9.35% per annum.
Before early September the Ministry of Finance sold T-bills at the exchange with a maturity of 3 to 12 months in the amount of 246,754,300 manats. These securities are instruments to cover the current budget deficit. -----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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