Total receipts of cash to banks in January-April 2012 amounted to 9.304 billion manat, which is 33.5% compared with the corresponding period last year. The largest share of the parish provided the sale of foreign currency - 33.5%. The share of sales was 16.4%, income on loans - 8%, receipts from ATMs - 5.5%, income from services and work - 4%, revenue in the notary's account when buying a property - 4%, of income on deposit accounts - 3.5%, etc.
According to the Central Bank of Azerbaijan, lack of cash turnover was 129 million manat (61 million AZN for April). Thus, the cost of cash during the reporting period amounted to 9.434 billion manat. This is 35.7% increase from 2011. Of the total expenditure, 28.8% of the costs was ATM cash collateral, 27.2% - the cost of purchasing goods and services, 10.7% - the cost of purchasing foreign currency, 6.3% - payments on loans, 5.4 % - the cost of notary accounts for property transactions, 3.5% - payments from deposit accounts, etc.
Cash balances at the end of four months of the year amounted to 274 million manat, which corresponds to 3% of cash flow during this time.
The average size of the daily cash receipts in April stood at 76.89 million manat, and the expenses - 77.96 million manat. - 15B -
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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