From January to May 2012 total arrival of cash to the banks reached 12.1 billion AZN, up 36.4% against the same period last year. Sale of foreign currency constituted the biggest share of arrival – 33.1%, 16.5% fell to sale of goods, 8.1% - payment of credits, 5.3% - inpayments through ATM , payments for services 4.1%, payments to the notary accounts during purchase of property -3.9%, receipt to deposit accounts – 3.5% and etc.
According to the Central Bank of Azerbaijan (CBA), deficit of cash turnover totaled 344 million AZN (+215 million AZN during May). During this period spending of cash totaled 12,444 billion AZN. This is 38% up against 2011. 28.1% of total costs fell to the costs related to supply of ATM, 27.6% - costs to purchase of goods and services, 11.1 costs for purchase of foreign currency, 6.5% - payment of credits, 5.3% - costs from notary accounts for property deals, 3% - payments from the deposit accounts and etc.
During 5 months 2012 cash residue totaled 320 million AZN, which is equal to 2.6% of cash arrival during this period.
In May average size of daily cash arrival was equal to 79,607 million AZN, while expenses – 81,866 million AZN.—0—
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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