Recommendations for Agsu People
The priority in lending business in Agsu has been identified. According to the information on the website of the National Fund for Entrepreneurship Support (NFES), the advantage will be given to villagers opening modern family livestock farms with 50 head of cattle, farms of intensive gardening and beekeeping, as well as enterprises for the production of cheese, dried fruit and cotton socks.
Those who are drawn to this type of business can safely provide their projects to the authorized credit institutions and receive advice and loan of up to 100% of the project cost.
NFES was established in 1992. Agents of the Fund for loans are 50 banks and non-credit institutions. The volume of lending to entrepreneurs in Azerbaijan through NFES amounted to 295 million AZN in 2014. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review