In July the reserves of the Central Bank of Azerbaijan decreased by 121 million manat, or 2.8%. On July 29 the Central Bank reserves amounted to 4 billion 162.9 million manat, while at 30 June, the figure was 4 billion 283.9 million mantas, Statistical data have been published on the Central Bank website.
Compared with the same period of 2015, the Central Bank reserves decreased to 4 billion 338.6 million AZN, or 51%. Meanwhile, the rate of manat continues to depreciate against the dollar.
So, the official exchange rate USD/AZN at the CBA was announced at the level of 1.5883 on 2 August. In the beginning of August the rate of dollar to manat was 1.5851. -06D—
Economics
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Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
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The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
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Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
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In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
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