The total receipts of cash to banks in January-June 2012 amounted to 14.72 billion manat, which is 38.2% more compared to the same period last year. The largest share of receipts came from sale of foreign currency - 32.9%. The share of sales was 16.9%, the revenue on loans was 8%, the revenue from ATMs - 5%, the revenue from services and work - 4%, the income for notary accounts when buying property - 3.9%, the income on deposit accounts - 3.5%, etc.
According to the Central Bank of Azerbaijan, the shortage of cash turnover amounted to 592 million manat (AZN 248 million for June). Thus, the cost of cash for the period amounted to 15.311 billion manat. This is 38.8% more than in 2011. Of the total expenditure, the cost of purchasing goods and services amounted to 28.1%, 27.2% was the cost of ATM cash collateral, 11.2% was the cost of buying foreign currency, 6.3% was mortgage payments, 5.1 % was the costs on notary accounts for property transactions, 3% was payments from deposit accounts, etc.
The cash balance for the first six months of the year amounted to 284 million manat, which corresponds to 1.9% of the cash receipts during that time.
The average size of the daily cash receipts equaled 80,875 AZN and the average daily expenses were 84,128 manat. - 15B -
Economics
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
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On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
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