Baku people, according to the statistics of the Central Bank of Azerbaijan, are the wealthiest citizens of Azerbaijan - in their accounts as of 1 October were 92.7% of all bank deposits, or 6 billion 774 million 651.5 thousand AZN ( 1.9% YTD).
On average, capital deposits from the public were made at the rate of 8.1% per annum, with most of them (the equivalent of 5 billion 263 million 835.7 thousand AZN) transferred into hard currency. Contributions in manats disastrously (2.66 times) decreased from the beginning of the year, amounting to 1 billion 510 million 815.8 thousand AZN. Banks also prefer foreign currency – the deposits are accepted at a rate of 8.4% per annum, while in manats – at 7.4% per annum.
If the contributions from residents of the capital rise, in the regional offices they are reduced (minus 0.6% as of 1 October) and for the reporting period they make up 537 million 154.8 thousand manats. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review