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 Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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