As of August 1, foreign exchange reserves of the Central Bank of Azerbaijan Republic (CBA) totaled $ 8.5 billion (minus $ 18.7 million to July 1). According to the report of the main financial regulator, for 7 months this segment of stability decreased $ 5.26 billion or 38.2%.
The most massive reduction in foreign exchange reserves accounted for December 2014 and March 2015, when amid falling stock prices of oil the dollarization of deposits increased. Recall that this trend has recently been voiced by CEO of CBA Elman Rustamov, speaking with an interview on the official television channel of the country. He believes that this trend will continue. --17D-
Economics
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A partnership of Azerbaijani companies has submitted an application to participate in the Italian government’s international tender for strategic assets in Italy, Turan reports.
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It is expected that the average Azerbaijani family will allocate a larger portion of their budget to food in 2025, driven by rising social expenditures and increased wages.
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Temporary suspension of gas supplies from Azerbaijan to Serbia will be avoided, Serbian President Aleksandar Vucic announced on Sunday.
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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