"Fitch" revised forecast on rating of Mortgage and Credit Guarantee Fund

The company “Meqa Sığorta” became winner of open tender for insurance of employees of the Entrepreneurship Development Fund under the Ministry of Economy.

The Central Bank of Azerbaijan (CBA) has issued an indefinite license to the companies “Mpay” and ”Paysis" for the right to carry out activities on electronic money organization. This is reported on the website of the regulatory body.

In the first half of 2024 the Central Bank of Azerbaijan has transferred AZN 250 million from its profit to the state budget in keeping with its obligations.

In the first half of 2024, budget revenues of the State Oil Fund (SOFAR) amounted to 9,254.9 million manats, off-budget revenues - to 441.5 million manats, and budget expenditures - to 6,414.4 million manats. This is reported by the Fund. According to the data, this is 20.9% less, 2.2 times less and 2.4 times more than in the same period of 2023, respectively. SOFAR budget revenues in January-June amounted to 6,436.5 million manats from the implementation of oil and gas agreements. This is 25.4% less than a year ago. In particular, for the last year, the Fund's income from the sale of oil and gas decreased by 28% and amounted to 5,657 million manats, income from bonus payments increased by 1.4% and amounted to 775.9 million manats, income from settlement payments did not change and amounted to 3.6 million manats, and income from transit decreased by 100%.