Money supply rose in September by 184.1 million or 1.5% to 12,402.4 million manat. Over the past 12 months, the volume of funds in manat economy grew at 2,772.1 million or 28.8%.
According to the Central Bank of Azerbaijan, the amount of cash outside the banking system rose in September by 170.8 million or 2.2% to 8,315.4 million manat, and non-cash AZN - 3.3 million or 0.1% to 4,087 million manat. The share of the latter in the structure of the manat circulation decreased to 32.9%.
Broad money increased in the reported month by 340.3 million or 2.3% and for the year - by 21.3% to 15,343.3 mln.
The volume of foreign exchange supply in the banking system rose in September by 156.3 million or 5.6% to the equivalent of 2,941 million manat. Foreign exchange supply for a year contracted 2.7%. Manat resources in the total money supply were 80.8%, which was 4.7% higher than on October 1 of last year.
The total amount of the monetary base increased in September by 2.2%, while for the year - by 29% to 9,399.7 million manat. Manat money increased over the month by 223.4 million or 2.4% to 9,299.8 million manat. - 15V -
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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