Volume of deposits with credit institutions of Azerbaijan increased in September 2012 by 202.3 million manat, or 2%, to 10,080.6 mln. Over the past 12 months, four of which there was a decline, the figure rose by 1,340 million or 15.3%.
In the reported period grew both manat and foreign exchange savings. The volume of foreign currency amounted to 5520.6 million manat. And its share in total deposit portfolio decreased to 54.8%. A year earlier, the share of foreign exchange reserves stood at 58.6%.
By the beginning of October individuals kept in bank deposits investments in the amount of 4,556.3 million manats, which corresponds to 45.2% of the total (the month before it was the same). Short-term investments of natural persons in the reported month increased 64.7 million or 2.4% to 2,921.2 million manat. Long-term savings by individuals increased 26.1 million or 1.6% to 1,609 million manat.
Time deposits increased to 6,724.7 million or 66.7% of the total. The total amount of demand deposits reached 3,566.7 mln.
According to the Central Bank of Azerbaijan, the average rate of manat deposits decreased in September by 0.10 percentage points to 10.21%, and the savings in foreign currency - by 0.28 percentage points to 10.49%. In the reported month, manat deposits were accepted from individuals at an average of 10.53% per annum, and currency deposits - at 10.82%. For legal entities, the figures were 6.97% and 4.27% respectively. - 15B -
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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