Almost all the bank deposits of the Azerbaijan population (92.28%) fall on Baku residents. Given the fact that the capital is home to only 40% of the country's citizens, it indicates a critical level difference between the quality of life in the regions and the center.
According to the Central Bank of the Republic of Azerbaijan, the portfolio of bank deposits of the capital's residents by August 1 was 6,404,488,800 manat (+7.7% YTD). The average rate on deposits of individuals across the country was 8% per annum with a maximum guarantee of 9%.
People in Baku prefer deposits in national currency (62.32%) - 3,991,040,500 manat (+ 11.3% against 1 January). In foreign currency they are interested less in spite of the profitability of 8.8% per annum (in areas it is less - 7.5%). In the regions the banks (mostly, affiliates of the capital structures) hold 535,546,600 manat - 12 times less than the residents of the capital.
The most active population is in the Absheron economic region adjacent to Baku - their accounts accumulated 171,048,100 manat at an average rate of 8.5% per annum. In the second place is the Aran (lowland) economic region - 163,168,200 manat at a rate of 7.4% per annum. --17D-
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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