Official foreign exchange reserves of the Central Bank of Azerbaijan (CBA) at the end of July of the current year amounted to $ 12,880.3 million.
According to the CBA, in July, foreign exchange reserves increased by $ 159.9 million, or 1.3%, since the beginning of the year - by $ 1,185.5 million, or 10.1%.
Over the past 12 months, Central Bank reserves increased by $ 1,757.6 million, or 15.8%. - 15B -
Economics
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Azerbaijan’s President Ilham Aliyev has signed a decree approving the "National Strategy for the Efficient Use of Water Resources," aiming to enhance water management and address water scarcity in the country. The decree, based on the Azerbaijani Constitution’s Article 109, mandates the coordination of measures outlined in the strategy by a commission established under a previous presidential decree.
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The market for vegetable and animal fats in Azerbaijan is largely shaped by a structural dependence on imports, as domestic production remains insufficient to meet the country's growing consumption needs. This dependency is underscored by several economic factors, including limited agricultural production and a lack of processing facilities, leaving the sector ill-prepared to reduce reliance on foreign supplies.
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The INMerge Ventures venture capital fund has been established in Azerbaijan, aimed at boosting the development of the country’s innovative and startup ecosystems, officials announced on Tuesday.
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Azerbaijan is set to roll out a comprehensive digital economy development strategy in 2025, aimed at transforming the country's economy through human capital development, innovation, and the digitalization of business processes, an official announced on Tuesday.
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