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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In a significant step towards advancing economic reforms, Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with a delegation led by Charles Donald, Chair of the OECD Working Party on State Ownership and Privatisation Practices and CEO of the UK Government Investments Agency. The meeting underscored Azerbaijan's partnership with the Organisation for Economic Co-operation and Development (OECD) and explored new avenues of collaboration.
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Azerbaijan is finalizing work on the "E-KOB evi" digital portal, aimed at streamlining business operations and enhancing coordination between entrepreneurs, state agencies, and private entities, Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), said.
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On December 3, Azerbaijan's Cabinet of Ministers approved new regulations requiring small electric transport vehicle operators to provide detailed data on vehicle use and operator information to government systems, effective immediately.
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In November 2024, the State Oil Fund of Azerbaijan (SOFAZ) sold $574.6 million, pushing the total dollar sales for the first 11 months of the year to $6.5 billion. According to SOFAZ, this represents a 40.8% increase compared to November 2023, when sales reached $339.9 million.
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