PM: Significant actions taken in 2015 to develop entrepreneurship in Azerbaijan

Azerbaijan’s National Entrepreneurship Support Fund issued soft loans worth 1.7 billion manats to entrepreneurs between 2004 and 2015, said Azerbaijani Prime Minister Artur Rasizade on March 15.

Rasizade made the remark at a plenary session of the Azerbaijani parliament dedicated to the discussion of a report on the Cabinet of Ministers’ activity in 2015.

He said the Fund allocated around 250 million manats to more than 5,000 entrepreneurs on preferential terms.

“The number of businesses increased by 10.7 percent up to 84,000, while the number of individual entrepreneurs rose by 11 percent to 577,000 people during the year,” Rasizade said.

He stressed that significant actions on entrepreneurship development were taken in 2015.

“Some 16 billion manats were transferred to the fixed capital in 2015,” he said. “More than 55 percent of this amount accounted for the non-oil sector.”

“The annual inflation rate was fixed at four percent,” he said. “Thus, despite the difficulties in the financial and banking sector, the Azerbaijani government and the central bank could keep the inflation at a single-digit level.”

He said that all social projects, the main state programs, priority projects were implemented through the state budget revenues in 2015.

Source: TREND