The Ministry of Economics together with the Central Bank are working on proposals for alternative long-term lending to the economy. This was stated by Minister of Economy Mikayil Jabbarov.

To meet the needs of financing business, the parties are preparing proposals to accelerate the development of the capital market, including the stock market, and the creation of investment funds.

The stock market in Azerbaijan was created in 2000 as a result of the formation of joint-stock companies on the basis of state enterprises and their privatization. However, over the past 20 years, the exchange has become a place for the purchase and sale of only small blocks of shares, as well as for the placement of corporate bonds of a few private and state companies. Over the years, not a single local company has conducted an initial public offering (IPO) among investors. Experts note that the high level of the shadow economy hinders the development of the capital market in Azerbaijan. ——08D–

Source: Turan News Agency