As of October 1, registered customers of local banks (excluding deposits of the population) were 246,109 legal entities and individual entrepreneurs (minus 13.3%, or 7,591 entrepreneurs and 36,859 entities to the beginning of the year, when there were 290,559 business accounts).
According to the statements of the Central Bank of Azerbaijan, the largest outflow of accounts of local businessmen took place in January and July, especially for legal entities. According to the report of the World Economic Forum, Azerbaijan occupies a leading position on the ease of starting a business - within the framework of "single window" it can account for 2-3 days, but for a serious structure it is important to track the further fate of these entrepreneurs. As can be seen from the report of the Central Bank, the number of commercial banks' customers becomes smaller, and the reason for that is the tightening of the tax base. --17D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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