On May 17 government bonds sold for a total amount of 10 million manats (circulation term - 1 year) marked a yield of 20.11% per annum. The weighted average yield on them was 11.9% per annum, according to BSE.
This auction was submitted 9 bids on behalf of 6 investors in the range of 25% - 9.5% rate of return on the total amount of 20.2 million manats.
The Ministry of Finance also auctioned bonds worth 10 million manats with a circulation period of 182 days. The same investors made applications for the total amount of 26.1 million manats. According to the results of the auction the yield on the securities was set in an average of 12%. Some investors will receive bonds yield at 12.93% per annum.
It should be noted that this year the yield on government bonds of the internal loan for the first time is more than 20% per annum. This is 8% higher than the yield on bank deposits. Thus, the government securities were the most attractive ones for investment. –08B-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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