Share of securities transactions to reach 21 percent in Azerbaijani GDP
Azerbaijan, Baku, Sept.14 / Trend, N.Ismayilova /
According to forecasts, the share of securities transactions in Azerbaijan's GDP will reach 21 percent by late 2011.
State Securities Committee Deputy Board Chairman Ilgar Muradov made this statement addressing the presentation of a collection of articles "Capital Markets and Business Opportunities".
"For the first eight months of 2011, government securities market, compared to corporate securities market, has shown the highest growth rates. The government securities market in the country increased more than fivefold and hit 4.9 billion manat," Muradov said.
He said within eight months of this year, the volume of primary and secondary market of government bonds increased by 4.9 percent, while the number of transactions - by 45.5 percent.
"The corporate securities market increased by 2.4 times and amounted to 805 million manat," he said.
He said primary and secondary corporate bond market grew by 3.8 percent and hit 694 million manat, while the stock market - 112 million manat.
The official exchange rate is 0.7866 manat to $1 on Sept.14.