BAKU/09.12.13/TURAN : Total assets of Azerbaijani banks widened in October this year to 203.6 million or 1% to 19,604.1 million manat. From the beginning, the bank's assets grew by 18.6 %, and for the year to 4,125.9 million or 26.7%.
According to the Azerbaijani Central Bank, credit investments as of November 1 totaled 14,558.3 ??million manat, increasing the reporting month by 1.1%. Over the past year lending to the economy grew by 28.6%.
Deposits in banks in October increased 66 million or 1.1 %, to 6,303.4 million manat. This figure from the beginning of the year grew by 23.3 %, and for 12 months - 34.4%.
The total capital of the banking sector increased in the reporting month by 72.9 million or 2.3%, amounting to 3233.1 million manat. During the year the figure rose to 872.8 million or 37%. - 15B -
Economics
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As a significant step toward strengthening Azerbaijan's position in global trade, the "International Trade" working group of the Commission on Business Environment and International Rankings held a videoconference to review progress achieved and set objectives for 2025. Key participants included the First Deputy Minister of Economy, Elnur Aliyev; the Head of the Economic Reforms Monitoring and Evaluation Sector, Vusal Shikhaliev; and the Deputy Chairman of the State Customs Committee, Natig Shirinov.
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Under the auspices of Azerbaijan’s Ministry of Economy and the Azerbaijan Export and Investment Promotion Agency (AZPROMO), a pivotal exporters’ meeting was held this week in Baku. The event brought together government officials, industry leaders, and entrepreneurs to review progress in export operations over the past year and set ambitious goals for 2025.
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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