Stock market expects double-digit growth next year
Azerbaijan's securities market expects a double-digit growth in 2013, chairman of the State Committee for Securities Rufat Aslanli told media.
"The tendency of the past years shows that the indices of market growth considerably exceed the growth rates of the country's GDP," Aslanli said. "Major capitalization of certain sectors of the economy is expected to occur in 2013. This will be implemented through the stock market. Moreover, work is underway to finance several projects with the aid of debt instruments on the capital markets. On the basis of preliminary data, we expect a double-digit growth of the market rather than one-digit in 2013."
According to Aslanli, with regard to institutional and qualitative changes in the domestic market the committee will focus on the adoption of a new law on the securities market. "This will open up new horizons for important changes in the functional and operational directions of the capital markets."
The total turnover of transactions on all financial instruments at Baku Stock Exchange (BSE) in January-September 2012 amounted to 7.889 billion manats (over $10 billion), or 38.83 per cent over the same period of 2011.
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