From July 2014 to May 2015 the foreign exchange reserves of the Central Bank of Azerbaijan decreased from $ 15 billion 193 million to $ 8 billion 387 million.
According to the report on the website of the Central Bank of Azerbaijan, the reserves have been decreasing for almost a year.
However, the sharpest drop in reserves occurred during the first four months of this year - from $ 13 billion 758 million or by 4 billion 292 million dollars (over 39%).
In the second half of 2014 the reserves declined steadily by about 1 billion monthly. Reduction in April 2015 amounted to over 1 billion 84 million.
Recall that in February, the head of the Central Bank said that the manat rate will gradually decline against the major currencies. This caused a stir and buying dollars by the population. According to the President, in a few days the population bought up a few billion dollars. In response, the authorities carried out a sharp devaluation of the national currency and the manat per day fell by 34%. -02D-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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