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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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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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