By April 1, the foreign assets of Azerbaijan were at the level of $ 2,308,194,000, with $ 316,868,000 attracted from abroad. Thus, according to the balance of payments statistics by the Central Bank of Azerbaijan, there was a surplus of $ 1,991,326,000.
The main share of assets is for deposits and cash ($ 1 billion 498.2 million). $ 140.9 million arrived in the country in this segment (+ $ 1 billion 357.3 million). However, it is not much in comparison with the previous year, when $ 13 billion 720.8 million settled in foreign financial institutions and the Azerbaijani banks received $ 4 billion 695.6 million. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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