ECONOMY


Standard & Poors approves credit rating for Azerbaijan

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Baku, July 31 AZERTAC

Standard & Poors credit rating for Azerbaijan stood at BBB-.

Fitchs credit rating for Azerbaijan is BBB-.

"The Euro decreased to 1.10 US dollars in July from 1.11 in June of 2015. The euro was only introduced as a currency on the first of January of 1999. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Azerbaijan thus having a big impact on the country's borrowing costs." The reports says.

"GDP Deflator in Azerbaijan increased to 86.50 Index Points in May from 84.70 Index Points in April of 2015. GDP Deflator in Azerbaijan averaged 104.98 Index Points from 2006 until 2015, reaching an all-time high of 233.70 Index Points in September of 2012 and a record low of 63.90 Index Points in May of 2009." The report says.

"Mining production in Azerbaijan increased 4.93 percent in June of 2015 over the same month in the previous year. Mining Production in Azerbaijan averaged 1.43 percent from 2014 until 2015, reaching an all time high of 10.25 percent in February."

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