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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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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