Azerbaijan's strategic currency reserves to April 1, 2014 amounted to $ 52 billion 853 million.
As stated in the review of the Central Bank of Azerbaijan (CBA ) on monetary policy in the first quarter of the year on its official website, it is 5.2% or $ 2 billion, 621 million more in comparison with indicators of January 1, when the strategic currency reserves amounted to $ 50 billion 232 million
By April 1, Azerbaijan's strategic currency reserves accounted for 70 % of GDP, which allowed it to enter the top twenty leading nations, said the Central Bank.
Strategic currency reserves are formed from the reserves of the CBA, the assets of the State Oil Fund and the Treasury of the Ministry of Finance. -17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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