The currency reserves of the Central Bank of Azerbaijan amounted to $ 5 billion 16.7 million as of January 1 (minus 63.54% for the year) and the profitability of foreign exchange asset management was at the level of 0.76%.
According to the CBA, the reduction of foreign exchange reserves is due primarily to the artificial maintenance of AZN and USD interventions in connection with this (in 2015, as in 2014, to support the exchange rate regime and to prevent a possible crisis, $ 4 billion was spent). The entire funds have been placed in US dollars. --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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