By October 1, the number of bank branches in Azerbaijan has increased to 743 (+ 6.1% at the beginning of the year). This is done due to private entities (total 707), while in the banks with state shares (total 36) there was no change.
Total, according to the Central Bank by the end of three quarters licensed were 2 banks with state capital and 42 commercial structures with the right to provide similar services.
At the beginning of the year there were branches of 39 banks, while this year two more banks got branches.
Furthermore, increased the number of sub-branches (+ 4.7% against the beginning of the year) - up to 155 units.
The number of affiliated banks abroad is 4 and the representative offices abroad are 7. --17D-
Economics
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The management of the Baku Metro often announces projects for new underground lines and stations, but official information never includes data on the cost of laying a kilometer of track or building specific metro stations. Journalists sometimes obtain details from unofficial sources, raising doubts about the reliability of such information. For instance, in 2021, an unofficial government source reported a cost of 60 million manats for planned construction of a single station on the Purple Line. This figure excluded finishing works, installation of communication lines, electronics, escalators, and elevators.
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The Milli Majlis (Parliament) of Azerbaijan began discussions on Monday regarding the draft state budget for 2025, which projects expenditures of AZN 41.368 billion.
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Azerbaijan’s livestock sector has demonstrated modest growth in domestic production, yet it faces significant challenges as imports of meat and dairy products surge. Recent data from the State Statistics Committee underscores this dichotomy, revealing increases in local output but an even sharper rise in imports, accompanied by persistent price inflation.
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Azerbaijan's agricultural sector faces a critical moment as modest growth in grain production fails to offset a troubling decline in productivity. Data from the State Statistics Committee shows that total grain and legume production grew by 0.7% year-on-year, reaching 3.2 million tons by November 1, 2024. However, this growth is overshadowed by a sharp 6.2% drop in yield, highlighting structural inefficiencies in the sector.
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