On April 10, the Central Bank plans to raise AZN 200 million at the deposit auction. The funds will be attracted for a period of 14 days at an interest rate of 12.01% -14.99%.
Since June 2016, the Central Bank has started holding deposit auctions. According to international practice, the main purpose of deposit auctions is sterilization of the money supply. During the deposit auctions, the Central Bank accepts deposits of commercial banks for placement. ----71D
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Yokogawa Europe BV have organized an "Executive Workshop" as part of a broader cooperation framework established under a Memorandum of Understanding (MoU) signed between the two companies, SOCAR said in a statement.
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Azerbaijan’s Parliament has ratified a landmark agreement on the development and transmission of green energy with Kazakhstan and Uzbekistan. The agreement, signed by the leaders of the three countries during COP29 in Baku last November, aims to promote renewable energy sources, enhance energy security, and support sustainable development.
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Azerbaijan’s non-oil and gas exports increased by 0.3% in 2024, reaching $3.4 billion compared to the previous year, driven largely by higher sales of agricultural and food products, according to the latest Export Review by the Center for Analysis of Economic Reforms and Communication.
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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