The February devaluation has had effect on the volume of foreign liabilities of local banks. From abroad from January to May were attracted loans and securities in foreign currency equivalent to more than 3 billion 66 million manats.
According to the report by the Central Bank (CBA), by May 1, the external liabilities changed in different directions - in April decreased by 207.6 million manats (2.83%), and since the beginning of the year - increased by 43% to 7 billion 130 5 million manats.
At the same time the largest share was for foreign assets, whose total volume in the local banking system is 4 billion 996 900 000 manats (+ 58.5% YTD).
The external liabilities of banks include loans, deposits and securities from non-residents. --17D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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