Weekly review of main events in Azerbaijan's financial market

Finance Materials 21 August 2021 15:04 (UTC +04:00)
Weekly review of main events in Azerbaijan's financial market

BAKU, Azerbaijan, Aug. 21

By Zeyni Jafarov - Trend:

The State Statistical Committee said this week that a surplus has been recorded in the Azerbaijani state budget from January to July 2021, Trend reports.

According to the committee, in the reporting period, the budget revenues amounted to slightly over 14 billion manat ($8.2 billion), which is 0.6 percent more than in the same period of last year. As a result, a surplus worth 367.7 million manat ($216.3 million) or 0.8 percent of GDP was formed in the budget.

Over 5.27 billion manat ($3.1 billion) were transferred to the state budget of Azerbaijan through the State Tax Service under the Ministry of Economy from January through July 2021, which is 26.2 percent more than the forecast.

The nominal income of the population of Azerbaijan has increased by 0.6 percent from January through July 2021, compared to the same period of 2020, amounting to 32.3 billion manat ($19 billion). The income of the population after payment of all mandatory and voluntary payments amounted to 29 billion manat ($17 billion), almost unchanged over the year.

Besides, this week, the European Bank for Reconstruction and Development (EBRD) approved the allocation of two loans to Azerbaijan’s Bank Respublika for lending to the local private agricultural micro-, small and medium-sized enterprises (SMEs). The size of the first loan is $9.5 million, and the second - $4 million.

Meanwhile, Asian Development Bank (ADB) has allocated a $5.9 million loan to Azerbaijan's Avrora LLC to support workers, farmers and retailers and to promote safe chains of food supply to Azerbaijan during the COVID-19 pandemic.

These funds will help support the activities of the LLC and will benefit nearly 3,000 employees, about 1,500 farmers and agricultural workers, as well as 12,000 rural shops.

Along with the above, in the outgoing week, manat grew against currencies of main partner countries, and the price for gold increased in Azerbaijan.


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