Total receipts of cash to banks in January-July 2012 amounted to 17.589 billion manat, which is 39.2% more compared to the same period last year. The largest share came from sale of foreign currency - 32.3%. The share of sales was 16.8%, the income on loans - 8%, revenues from ATMs - 4.9%, revenues from services and work - 4.1%, revenues for notary account when buying property - 3.9%; income on deposit accounts - 3.5%, etc.
According to the Central Bank of Azerbaijan, the shortage of cash turnover amounted to 835 million manat (AZN 243 million in July.) Thus, the cost of cash for the period amounted to 18.424 billion manat. This is 37.8% more than in 2011. Of the total expenditure the cost of purchasing goods and services amounted to 28.4%, 27% - the cost of ATM cash collateral, 10.6% - the cost of buying foreign currency, 6.2% - mortgage payments, 4.9% - expenses with notary accounts for property transactions, 3.1% - payments from deposit accounts, etc.
Cash balance in the first seven months of the year amounted to 315 million manat, which corresponds to 1.8% of cash receipts during that time.
The average size of the daily cash receipts equaled 82,578 AZN, and the average expenses were 86,499 manat. - 15B -
Economics
-
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
-
The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
-
The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
-
Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
Leave a review