Azerbaijan, Baku, March 16 / Trend, A.Akhundov /
From 2004 to 2011, trade turnover of the Baku Stock Exchange increased by 90 times up to 8.43 billion manat. Its ratio to GDP increased from one to 17 per cent over this period, a report of Azerbaijani government on 2011, which will be discussed at the parliament's plenary session on Friday, says.
Enhancing funding opportunities for the private sector from the stock market contributed to the growth of the volume of trade turnover of corporate securities on the organised market by 43 times during this period.
'During this period an increase of trade turnover by 46 times was observed in the stock market and on the corporate bond market by 40 times', the report says.
In the past seven years a growth level has been recorded in the government securities' market at 17 times, the government bonds market at 16 times and the volume of notes of the Central Bank, 18 times.
The official exchange rate is 0.7863 manat to $1 on March 16.