Why are State Budget expenditures on social security reduced?

Social security spending is being reduced in the State Budget.

Changes made to State Budget for these reasons

The macroeconomic forecasts of the government, taking into account the price situation and other revenues in the global oil & gas market, have been updated.

Such a high budget deficit is predicted for the first time

For the first time in recent years, during the course of adjustments to the State Budget, the projected deficit has increased to such a record level.

Increase your income with high interest deposits from Kapital Bank

Amendments to Azerbaijan’s State Budget 2024 adopted in 1st reading

The draft amendments to the Law on State Budget 2024 have been discussed at the Milli Majlis plenary session.

Finance Minister: 78.8% of advances account for law enforcement agencies

Accounts Chamber’s chairman spoke about growth of accounts receivable. Speech here is about finances paid in advance.

Justified expenditures of Azerbaijan’s budget to increase by 3.3 bn manats

During the revision, budget expenditures in the amount of 852 million manats will be optimized, financial support for investment-oriented infrastructure projects, subsidizing suburban passenger transportation, etc. will be created.

In 4 months, share of non-oil/gas sector revenue in State Budget increased by 51.8%

Over Jan-Apr 2024, the share of non-oil/gas sector revenues in the State Budget of Azerbaijan increased by 51.8%, which is 1.5 p.p. more than forecast.

Milli Majlis discusses changes to State Budget

At today's plenary session of the Milli Majlis extraordinary session, the draft law on amendments to the Law on State Budget 2024 was considered in the 1st reading.

Central Bank currency rates for 7 June

Azerbaijani manat rate has fallen to the euro, while is stable to the US dollar, to the Turkish lira, and to the Russian ruble.

NBCO, whose loan portfolio shrinks and net profit falls sharply — Report

The loan portfolio of the partner credit organization of the brothers Elmar and Elchin Aliyevs of NBCO Finoko OJSC in 2023, which is the main activity, decreased, and net profit reduced sharply.

Finex Kredit completed 2023 with profit of 4,166 manats

NBCO Finex Kredit completed 2023 with profit of 4,166 manats. At the same time, in 2022, its loss amounted to 644 thousand manats.

Kapital Bank to pay dividends to shareholders

On July 8, 2024, at 11:00 a.m., an extraordinary general meeting of Kapital Bank shareholders will be held.

President approved amendments to Law on Non-Cash Payments

President Ilham Aliyev has signed a document on draft amendments to certain laws in connection with implementation of the Law from December 5, 2023 #1035-VIQD "On Amendments to the Law on Non-Cash Payments".

Banks’ demand at foreign exchange auction increased by 34%

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

Central Bank currency rates for 6 June

Azerbaijani manat rate has declined to the euro and to the Turkish lira, while is stable to the US dollar and to the Russian ruble.

Currently, more than 95% of given loans are not insured

Today, more than 95% of the given loans are not insured, ABC.AZ quotes Zakir Nuriyev, the president of the Association of Banks of Azerbaijan.

Zakir Nuriyev: Life insurance creates conditions for solving problems of surety

Life insurance of individuals receiving consumer loans in Azerbaijan creates conditions for solving the problems of guarantees.

Life insurance rates to be halved

With the introduction of the latest life insurance rules approved by the Central Bank, insurance tariffs will decrease by about 50%.

A 3-month task set to banks

These insurances to lead to lower loan rates

The Central Bank is carrying out quite serious reforms in the financial sector.