International rating agency Moody's Investors Service upgraded the long-term rating of Khalg Bank term local and foreign currency from B3 to B2 level .
As reported in the bank, the agency affirmed the bank financial strength rating of E + and Short-term bank deposits in national and foreign currency at B3/NP.
Assessing the prospects Khalg Bank, Moody's analysts noted that the improvement of the forecast is based on factors such as the strengthening of the Bank's position in the market, a high level of profitability, asset quality , strong capitalization . In Moody's expressed confidence that the diversification of financial resources , asset quality and profitability over the next 12-18 months could have a more positive impact on the bank's ratings . -15D -
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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