Without improvement of the banking system, it is impossible to develop the real economy of the country, MP Vahid Ahmadov believes.
According to him, the way of recovery of the banking sector goes through solutions to the problem of overdue loans.
This problem sometimes leads to tragic consequences when citizens are unable to pay loans after two devaluations and commit suicide, he said in a conversation with Turan IA.
Ahmadov together with MP Ali Masimli submitted to various institutions a package of proposals on solving the problems of the banking sector and the economy, expecting that the authorities will take them into account when making specific decisions. -06D--
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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