The profitability of investments in the national currency of Azerbaijan Deposit Insurance Fund (ADIF) has increased.
According to the report (http://adif.az/uploads/hesabat/2014/1.PDF) of last year's financial performance, audited by PwC, last year's return on ADIF investment in manat increased from 4.36% to 4, 40%. Return on investment in the euro has not changed - 0.75%.
The majority of assets (69 million 893 thousand AZN) is available for a period of 1 to 5 years, the remaining 10 million 804 thousand manat, short-term, - for a period of 3 to 12 months.
The total revenues of the Fund for the year amounted to 19,710,000 and the insurance reserves totaled 87.56 million manat. - --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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