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Farid

SELF-INDUCED LOSSES

insurance

Insurance companies are trying not to raise their charges despite an increase in costs caused by devaluation The fall in oil prices and the reduction in the exchange rate have impacted on virtually all areas of Azerbaijan’s financial sector. However, even in such difficult circumstances, the insurance market has generally …

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Baku’s Seaside Boulevard – Then and Now

Baku’s Seaside Boulevard

Baku’s much-loved ‘Bulvar’ has been central to city life for well over a hundred years. Originally occupying just a few hundred metres from today’s Puppet Theatre to Azneft Square, the historic Boulevard has gradually lengthened and in early June 2015 witnessed its most dramatic expansion to date, with the newly …

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OUT OF FAVOUR WITH THE BOLSHEVIKS

Mahammad Sadig bay Agabayzada

On the fate of the deputy interior minister of the ADR, Oriental sciences scholar Mahammad Sadig bay Agabayzada, and his relatives under Soviet rule. During the 70 years of Soviet rule any mention of his name in Azerbaijan was taboo. Even his closest relatives, who were able to see him and …

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THE OTHER SIDE OF DEVALUATION

devaluation

The drop in the value of the manat is creating fresh opportunities for the private sector in that it is preventing a drastic rise in prices. A two-fold devaluation of the manat in 2015 has undoubtedly made a ne-gative impact on household incomes and consumer prices.

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FOCUS ON REAL PROPERTY

real property

rb Expansion of housing construction stimulates activity in many related industries. Housing construction is going to become an important industry in the coming years, which will allow the Azerbaijani government to solve many social and economic issues.

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HOPING IN THE PRIVATE SECTOR

private sector

Azerbaijan has increased the state budget’s parameters for 2016, despite projected oil prices having decreased by half The fall in global oil prices and the devaluation of the national currency give new urgency to the issue of the Azerbaijani government’s response to these new challenges. The administration ended up adjusting …

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“WHITE GOLD”: THE COST OF THE ISSUE

cotton

The government intends to support cotton-producers with soft loans and increased technical support. Once well-developed, in recent years cotton-growing has become an outsider within Azerbaijani agriculture. Loss of interest from farmers and omnipresent reduction in the area under cultivation are due to processing plants’ low

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BANKING REFORM

Central bank of Azerbaijan

How to strengthen the system and not to lose customers. The process of economic reform launched in Azerbaijan has the most noticeable impact on the financial and banking sector today. In recent years, the Central Bank has influenced the quality of the banking market by a fivefold increase in the …

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