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 Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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