Azerbaijan's strategic currency reserves decreased 4.3% or $ 2.3 billion in the last quarter of 2014, but in the fiscal cycle they increased 2.4%, amounting to $ 51.4 billion by January 1, 2015.
According to the report of the Central Bank of AR (CBA) on monetary policy for 2014 published on the website, "the strategic currency reserves are sufficient to replace the three-year imports of goods and services, 8 times higher than the amount of external debt."
According to the CBA, the republic's foreign exchange reserves account for about 70% of GDP in Azerbaijan.
Strategic currency reserves are formed from CBA reserves, SOFAZ assets and treasury funds of the Ministry of Finance. --17D-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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