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of February 21 and December 21 last year, after which the government's credibility fell, and most of the money was withdrawn abroad.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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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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