In comparison with the first quarter last year, cash decreased by the equivalent of 2 billion 361.7 million AZN (it was 7 billion 396.6 million and became 5 billion 34.9 million AZN).
At the same time, according to the Central Bank of Azerbaijan, in comparison with the beginning of 2016, there has been a slight increase in this indicator - by 1 January in circulation was 4 billion 775.9 million AZN.
The total money supply decreased over the year - by 1 April it was equal to 8 billion 943 million manats, while last year by the same date it was 12 billion 493.3 million manats, although again there is growth in the first quarter - by January 1 it amounted to 8 billion 678.3 million AZN.
These segments of the financial markets have been narrowed as a result of the double devaluation of February 21 and December 21 last year, after which the government's credibility fell, and most of the money was withdrawn abroad. Moreover, investors urgently turned their manats into dollars and the crisis of payments and bank liquidity began. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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