At the deposit auction of the Central Bank of Azerbaijan, demand exceeded the supply by AZN 101.5 million.
The Central Bank attracted AZN 200 million at the deposit auction with a demand of AZN 301.5 million.
The funds were raised for a period of 14 days, at an average weighted rate of 14.53%.
Since June 2016, the Central Bank has started holding deposit auctions.
According to international practice, the main purpose of deposit auctions is sterilization of the money supply. During the deposit auctions, the Central Bank accepts deposits of commercial banks for placement. -----71D
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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