Issues of establishment of private credit bureaus in Azerbaijan were discussed at the meeting of the Head of the Association of Banks of Azerbaijan (ABA), Zakir Nuriyev, and the Executive Director of ABA, Yunus Abdulov, with the representatives of the International Finance Corporation and the Swiss company Creditinfo Group, according to ABA.
According to Turan, the meeting agreed on an action plan and next steps for the creation of credit bureaus.
Before that Creditinfo Group participated in the creation of credit bureaus in Georgia, Romania and Kazakhstan and is their main shareholder.
The meeting discussed the steps taken to create credit bureaus and the forthcoming work in this direction.
Also discussed were the activities of credit bureaus overseas and benefit from their creation to banks and other related parties. -----76D
Economics
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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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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