Crisis of Payments Ends

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of February 21 and December 21 last year, after which the government's credibility fell, and most of the money was withdrawn abroad.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-

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