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 Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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