On October 18 the Ministry of Finance placed only a third of the T-bills offered to investors with a maturity period of 182 days, according to BSE.
Investors bought 71,362 of the 200,000 T-bills auctioned. From the sale of T-bills with a nominal value of 7 million 136.2 thousand manat the Ministry of Finance was able to raise just 6 million 576.5 thousand manat.
BSE reports that 4 investors participated in the auction, which offered from 91.3 to 93.3 manat per T-bill with a par value of 100 manat.
As a result, the weighted average yield of the T-bills amounted to 17.16% per annum. At the previous auction on September 6 the Ministry of Finance agreed with investors about the level of 10.79% per annum.
The T-bills are discounted. They are placed below the nominal value and shall be redeemed at par on the expiration of their term to maturity. ---08D
Economics
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
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