Weekly review of main events in Azerbaijan's financial market

Finance Materials 14 August 2021 13:33 (UTC +04:00)
Weekly review of main events in Azerbaijan's financial market

BAKU, Azerbaijan, Aug.14

By Zeyni Jafarov – Trend:

The State Statistical Committee of Azerbaijan said this week that the country’s GDP has increased by 2.7 percent from January through July 2021 and exceeded 47.2 million manat ($27.7 million), while GDP per capita amounted to 4,720.8 manat ($2,777), Trend reports.

According to the committee, the consumer price index (CPI) in the country has grown by 4.5 percent during the reporting period.

Meanwhile, the allocations to the fixed capital from all financial sources for the development of Azerbaijan’s socio-economic sphere amounted to slightly over 7 billion manat ($4.1 billion) which is 12.1 percent less than in the first seven months of 2020.

Besides, the Finance Ministry said in the outgoing week that the revenues of the state budget of Azerbaijan in the first half of 2021 amounted to 11.7 billion manat ($6.88 billion), and the expenditures - 11.59 billion manat ($6.82 billion). Thus, the state budget in the reporting period was executed with a surplus of 164.5 million manat ($96.7 million) or 0.4 percent of GDP.

The country’s external public debt amounted to $8.6 billion (18.2 percent of GDP), and domestic public debt totaled over 2.7 billion manat ($1.6 billion) or 3.4 percent of GDP.

This week it was also reported that the Black Sea Trade and Development Bank (BSTDB) has extended a new local currency SME facility of 10 million manat ($5.8 million) to TuranBank for on-lending to domestic small and medium businesses.

The financing will enable TuranBank to increase the availability of funds for small and medium-sized enterprises (SMEs) for their production and investment programs and for working capital needs.

This is the BSTDB’s second Manat SME loan to Turanbank.

Along with the above, this week, manat grew against the euro, and prices for gold and platinum increased in Azerbaijan.


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