By March 1, the foreign exchange reserves of the Central Bank of Azerbaijan were at $ 4 billion 26.3 million.
According to the information on the Bank’s official website, this means a reduction from the beginning of the year by about a fifth (down $ 990.4 million). This is due to periodic release of USD for auctions to support the activities of banks, while experts believe that after the adoption of amendments to the Law On the Central Bank by the Parliament this practice will be discontinued.
Recall, the highest level of reduction of foreign exchange reserves of the CBA has been marked in the past year - from January to the end of December of the reporting period, they decreased almost 2.8 times. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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