BAKU, Azerbaijan, September 19. Azerbaijan's stock market accounts for only about 5 percent of the gross domestic product (GDP) and needs revitalization, Chairman of the Board of BSE CJSC, Ruslan Khalilov, said at a press conference, Trend reports.
He also noted that since 2019, there has been a dynamic growth in capital attraction through securities.
"In 2023, the capital volume reached 5.77 billion manat ($3.39), compared to 3.6 billion manat ($2.11) five years earlier," Khalilov stated.
The capital market primarily encompasses the financial sector (2.66 billion manat in 2023), the manufacturing sector (150 million manat), construction (160 million manat), agriculture (650 million manat), and utilities (2.15 billion manat).
Baku Stock Exchange (BSE), which recently celebrated its 30th anniversary, has undergone rebranding and incorporated objectives into its new development strategy for 2024-2026 aimed at revitalizing Azerbaijan's stock market through the implementation of seven key initiatives.