The Central Bank of Azerbaijan (CBA) took 491 counterfeit banknotes in the amount of AZN 7,901 out of circulation last year, the annual report of the chief financial regulator of the country reads.
The total volume of cash in circulation by the beginning of the year amounted to 10.8 billion manats (minus 1.7% per year), or 513 million banknotes, of which 47% are bills and 53% are metal money. Moreover, almost all (99.6%) the cash in circulation accounted for paper money.
The most common are bills worth 100 manats - 73.1 million pieces, 1 manat - 56 million, 50 manats - 54.6 million, 20 manats - 23 million, 5 manats - 21.1 million, and 10 manats - 13.3 million. --17D-
Economics
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The European Commission views Azerbaijan’s increasing gas exports to Europe as a vital alternative for ensuring the EU’s energy security, European Union Energy Commissioner Kadri Simson told Turan in an exclusive interview during the COP29 summit in Baku.
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The State Oil Company of Azerbaijan (SOCAR), which joined the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0) earlier this year, hosted a forum on November 15 within the "Green Zone" of COP29. The event, titled "OGMP 2.0 Leadership Forum," brought together key stakeholders to discuss progress and prospects for methane emissions reduction in the oil and gas industry.
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Simon Stiell, Executive Secretary of the UN Framework Convention on Climate Change (UNFCCC), highlighted the urgency of climate financing discussions ahead of his visit to the G20 summit in Rio de Janeiro from November 17-20. Stiell, speaking before departing from Baku where the 29th session of the UNFCCC is currently underway, underscored the pivotal nature of the negotiations taking place.
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The State Oil Company of Azerbaijan (SOCAR) is strengthening its presence in Bulgaria's gas distribution sector, aiming to capture 7.5% of the market by the end of 2024. Currently, SOCAR supplies half of Bulgaria's natural gas needs and plans to further increase its market share through strategic partnerships and expanded distribution.
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